Printing inks tax gazette promulgated; boon for makers

The Cabinet on Monday approved an order to rectify the injustice faced by the domestic printing ink manufactures when importing certain raw materials.

The proposal was submitted by President Ranil Wickremesinghe in his capacity as the Investment Promotion Minister. According to the existing tax structure, certain raw materials used for the production of domestic printing inks by domestic printing ink manufacturers are subject to higher rates of import duty than the printing inks imported as finished products. The Cabinet was informed that this is a disadvantageous situation for domestic printing ink manufacturers and needed to be rectify soon.

In order to rectify the situation, an order has been promulgated in the Government Gazette on 21.07.2023 in accordance with the Sri Lanka Export Development Act No. 40 of 1979.

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