News

Cabinet decides to remove variable cess on tea stock exports

Summary

Updated on : 05-09-2018

The tea exporters yesterday welcomed the Cabinet decision to impose a fixed cess tax of Rs.10.00  per kilogramme on stock exportation of tea, removing the existing variable cess tax on tea exports above 10 kilogrammes, stating that the move would make Ceylon Tea more competitive in the international market.

The Cabinet on July 10 approved the proposal presented by Plantation Industries Minister Navin Dissanayake to impose a fixed cess tax of Rs.10.00 per kilogramme on stock exportation of tea.

Speaking to Mirror Business, Tea Exporters’ Association Chairman Jayantha Karunaratne said, “We welcomed the move as exporters because we will pay less cess to the Treasury, which will help us to be more competitive exporters.”

Credit: Daily Mirror