Tea planters welcome reduction of sudden export tax
The Sri Lanka Planters Association representing large tea growing companies welcome a reduction in a sudden hike in a tea export tax, which was sprung on the industry with no warning or consultation.
Chairman of Sri Lanka’s Planters’ Association Lalith Obeyesekere said the Minister of Plantations Industries had intervened with the President to reduce the cess tax which had been almost doubled.
The Planters Association appreciates and commends this laudable gesture by the President and the Minister of Plantation Industries.
They trust that any future regulatory or fiscal changes would be made in consultation with the line Ministry, the Sri Lanka Tea Board and the Industry Stakeholder Associations.
The tax will not be applied at a rate of 2.5 percent of the net sale average for ‘bulk tea’ calculated every quarter.