Onion and potato import levies slashed

Tuesday, 4 December 2018 00:56 - - {{hitsCtrl.values.hits}}

The Finance Ministry yesterday announced it has reduced taxes on imported potatoes and onions to provide relief to consumers for Christmas and New Year.

“The Government, in order to provide relief to consumers during this festive season, has reduced the Special Commodity Levy on imported onion and potatoes from Rs.40 to Rs.20 from 3 December midnight,” the Finance Ministry said in a short statement.

Last week, the Finance Ministry said it would slash taxes on sugar up to 6g in carbonated drinks and sugar up to 9g in fruit juices. The earlier tax of 50 cents on 1g of sugar has been reduced to 30 cents. These two measures together would reduce beverage prices by as much as 30%, according to the Ministry.

A slew of tax concessions had also been proposed including the telecommunications levy but many of them would require parliamentary approval to be implemented. Fuel prices have also been reduced twice since 26 October.