The order provided by authorities of the Ministry of Finance to lower the prevailing CESS levy on cement has received approval from the Committee on Public Finance (COPF).
Accordingly, the rate of a bag of cement will be lowered by approximately Rs.
100, Ministry authorities said.Matters connected to the stated were talked about when the Committee on Public Finance met in Parliament just recently, Chaired by Member of Parliament Dr.
Harsha de Silva, the Parliamentary Communications Department stated in a statement.Accordingly, Order under section 14 of the Sri Lanka Export Development Act, No.
40 of 1979 published in the Gazette Extraordinary No.
2400/25, Notification under Section 3( 4) of the Strategic Development Projects Act, No.
14 of 2008 released in the Gazette Extraordinary No.
2399/16, Order under Section 3( 4) of the Strategic Development Projects Act, No.
14 of 2008 published in the Gazette Extraordinary No.
2401/19, 06 Gazette Notifications released under 06 Orders under the Special Commodity Levy Act, No.
48 of 2007, and Notification under Welfare Benefits Act, No.
24 of 2002 released in the Gazette Extraordinary No.
2415/66 were taken into account by the Committee.Considering Order under area 14 of the Sri Lanka Export Development Act, No.
40 of 1979 published in the Gazette Extraordinary No.
2400/25, the Chair of the Committee on Public Finance advised officials of the Ministry of Finance to take required measures to make sure that earnings produced through the CESS tax imposed for export development is straight moved to the relevant banks, the statement added.Additionally, the Order to decrease the tax imposed on the export of rock stones, which was presented throughout the construction of the Hambantota Port, was likewise approved by the Committee.
Accordingly, a tax of Rs.
1,000 per cubic meter will be levied for the export of one million metric tons of rock stones, it included.