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Taxes removed on essential food items and medicine

03 Jan 2022

  • Rs. 229 b relief package and slew of measures announced to ease burden on public
All essential food items and medicines will be exempt from taxes from January 2022 onwards, stated Finance Minister Basil Rajapaksa yesterday (3), announcing a series of relief measures introduced to ease the burden on the public. Speaking at a press briefing held after the conclusion of the year’s first cabinet meeting yesterday, Minister Rajapaksa announced that a relief package amounting to Rs. 229 billion ($ 1.13 billion) would be put into effect. In addition to the removal of taxes on medicines and essential food items, including dhal, big onions, potatoes, and sugar, as well as a number of grants to public sector employees, pensioners, and others, the Finance Minister stated that the purchase price of paddy from farmers would be Rs. 75 per kg from the Maha season onwards. This is an additional Rs. 25 per kg of paddy from the current Rs. 50 per kg. He assured that consumers would not have to deal with increased prices due to this measure, as the cost would be borne by the Government. Those engaged in home gardening on an area below 20 perches will be granted an allowance of Rs. 5,000, while an allowance of Rs. 10,000 will be provided to those farming on land more than 20 perches and less than an acre in size. Rajapaksa further said that each household in the plantation sector will be provided 15 kg of wheat flour per month at Rs. 80 per kg. Moreover, Rajapaksa noted that the Cabinet has decided to appoint a minister dedicated to each donor country and donor organisation to hold discussions with the relevant parties and provide solutions to the current economic situation in Sri Lanka.

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