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X-Press Pearl scrap iron can be removed after duty is paid – State Minister

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Finance State Minister Dr. Ranjith Siyambalapitiya said that no permission will be given to cut and remove iron from the ship X-Press Pearl which caught fire and sank in Sri Lankan

seas unless proper taxes are paid. The Minister pointed out that if iron is being cut and removed from this ship which is in Sri Lankan sea waters,

an import-export licence too has to be obtained. The Minister who said that there are about 48,000 metric tonnes in the vessel, also mentioned that Sri Lanka will be able to earn significant money in taxes.

“There was a discussion regarding this, with the President yesterday. He said very clearly, that whatever is within the sea limits of Sri Lanka should be dealt with according to the law of the country. Therefore, this iron falls into the category of scrap iron. If any faction wants to remove and take away this iron an import-export licence should be obtained. In addition Customs fees have to be paid as well. Under the Customs Ordinance Act 10% of the value of this iron should be charged as cess taxes,” the Minister said.

Wednesday, February 8, 2023 – 01:17

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