New tax on imported coconut oil from next week


State Minister of Finance Ranjith Siyambalapitiya says that an import tax will be imposed on imported coconut oil with effect from next week.

Speaking to the media yesterday (22), the minister said that this tax comes into effect with the aim of safeguarding the local coconut oil manufacturers.

Siyambalapitiya further mentioned that the tax is likely to be Rs. 25 per liter, as already discussed.


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