Sri Lanka Slashes Import Tax to Tackle Keeri Samba Rice Shortage
January 04, Colombo (LNW): To address the pressing scarcity of Keeri Samba rice, the Sri Lankan government has taken a significant step by slashing the import tax on a similar rice variety. President Ranil Wickramasinghe, acting as the Finance Minister, announced this move through an extraordinary gazette.
The reduction specifically targets the Special Commodity Levy on rice imported under HS Code 1006.30.29, dropping the tax from a substantial Rs. 65/- per kilogram to a mere Rs. 1/-.
This temporary tax relief, effective from January 2nd to January 21st, 2024, is intended to stimulate increased imports of the alternative rice type, offering a potential solution to the current shortage of Keeri Samba rice.