Import tax on edible oil increased

23 September 2015 11:53 am Views - 3485

Special commodity levy on imported edible oil was increased by Rs 20 per a kilo with effect from today to provide relief to local coconut industry, the Finance Ministry said.

Earlier, the levy on crude edible oil was Rs 90 per kilo and Rs 110 per kilo for refined oil.

“Edible oil is imported as a substitute for coconut oil. In order to protect the local coconut oil industry, Finance Minister Ravi Karunanayake issued directives to increase the special commodity levy of imported oil by Rs 20,” the Ministry said. (Lahiru Pothmulla)