Importers are deliberately exceeding their daily imports of containers to take advantage of the increase in VAT from January, Finance State Minister Ranjith Siyambalapitiya claimed.

Addressing the media, he said the daily container imports, which were 700, had suddenly increased to beyond 1,000, causing huge congestion at the port to release them.

“The trick of these importers is to sell these goods at a higher price with the VAT by completing the clearance process before January 1, when the VAT will be increased to 18%,” the Minister said.

He mentioned that it is also the responsibility of the media to intervene to stop such actions.

Meanwhile, the minister also commented on the need to raise the price of alcohol again due to the increase in VAT. He said that although goods like fuel, gas, and chemical fertilisers are subject to VAT, the price of non-essential goods like alcohol will increase due to the decision to exempt ports and airports from tax.

-daily mirror

Govt notification issued amending imports and exports regulations