The Ministry of Finance has issued a statement addressing misleading media reports claiming that the government has introduced new special commodity taxes on five types of goods.
The Ministry clarified that the one-year validity of Gazette Notification No. 2353/77, issued on October 14, 2023, expired on October 13, 2024. To extend its provisions, a new Gazette Notification No. 2406/02 was issued on October 14, 2024, extending the current tax structure until December 31, 2024.
Contrary to false reports, the government has not imposed any new taxes. The existing tax on imported lentils, set at 25 cents, remains unchanged. Additionally, to protect the local fishing and fruit cultivation industries, while considering foreign exchange concerns, the current tax benefits on the other four products have been extended in the same manner.
The Ministry further emphasized that while such gazette notices are typically issued with a one-year validity, the current tax rates will remain in effect only until December 31, 2024, pending further analysis of these taxes.
