ECONOMYNEXT – Sri Lanka’s plans to remove so-called para-tariffs, and the introduction of a higher 30 percent duty band is not aimed at getting any additional revenue, Treasury Secretary Harshana Suriyapperuma said. The budget for 2025 said a 30 percent rate will be added to the current import duty bands of 0, 10, 15 and 30 percent. The intention was to progressively eliminate so-called para tariffs including an import CESS, PAL and SCL which can eliminate competition protection and give a free hand for domestic production lobbies that cannot compete in export markets to exploit customers at home. Para-tariffs can…
Sri Lanka para-tariff removal to be revenue neutral, may start 1Q : Treasury Secy
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