The Minister of State for Finance Dr. Ranjith Siyambalapitiya says that the special goods and services tax will be abolished from next January.
This tax was implemented to protect local farmers and local manufacturers.
Instead, it is hoped to implement a new seasonal tax linked to customs duty.
The Minister further mentioned that this special commodity tax was very important as an immediate tax that could be presented to protect local farmers when their products reach the market.
State Minister for Finance Dr. Ranjith Siyambalapitiya has stated that he will identify the specific time when agricultural products will come to the market and introduce a new tax system linked to tariffs like in developed countries.
