The Finance Ministry today said the government has not incurred a loss of Rs.15.9 billion from sugar imports as reported, and that it was simply the outcome when the import tax on sugar was reduced.
Ministry Secretary S. R. Attygalle said that it was the fiscal policy of the government to reduce and increase taxes from time to time.
"Import tax concessions were given not only to sugar but also to six items including onion and canned fish on October 13, 2020. We saw the reports which said that the state has incurred a loss of Rs. 15.9 billion due to reduction of sugar import tax to Rs. 0.25 from Rs.50 per kilo. We haven't said it. There's no such loss. We can't say that. When import tax is reduced, we don't get it. It's not a loss, that's the policy," he told a news briefing.
He said the import tax on sugar was reduced in July in 2016 as well to 0.25 rupees and added that it were same importers who imported sugar back then.Sugar imports: Finance Ministry says there's no loss of Rs.15.9bn
12 Mar 2021
Sugar imports: Finance Ministry says there's no loss of Rs.15.9bn
12 Mar 2021
The Finance Ministry today said the government has not incurred a loss of Rs.15.9 billion from sugar imports as reported, and that it was simply the outcome when the import tax on sugar was reduced.
Ministry Secretary S. R. Attygalle said that it was the fiscal policy of the government to reduce and increase taxes from time to time.
"Import tax concessions were given not only to sugar but also to six items including onion and canned fish on October 13, 2020. We saw the reports which said that the state has incurred a loss of Rs. 15.9 billion due to reduction of sugar import tax to Rs. 0.25 from Rs.50 per kilo. We haven't said it. There's no such loss. We can't say that. When import tax is reduced, we don't get it. It's not a loss, that's the policy," he told a news briefing.
He said the import tax on sugar was reduced in July in 2016 as well to 0.25 rupees and added that it were same importers who imported sugar back then.Kapruka
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