• Education
    • Higher Education
    • Scholarships & Grants
    • Online Learning
    • School Reforms
    • Research & Innovation
  • Lifestyle
    • Travel
    • Food & Drink
    • Fashion & Beauty
    • Home & Living
    • Relationships & Family
  • Technology & Startups
    • Software & Apps
    • Startup Success Stories
    • Startups & Innovations
    • Tech Regulations
    • Venture Capital
    • Artificial Intelligence
    • Cybersecurity
    • Emerging Technologies
    • Gadgets & Devices
    • Industry Analysis
  • About us
  • Contact
  • Advertise with Us
  • Privacy & Policy
Today Headline
  • Home
  • World News
    • Us & Canada
    • Europe
    • Asia
    • Africa
    • Middle East
  • Politics
    • Elections
    • Political Parties
    • Government Policies
    • International Relations
    • Legislative News
  • Business & Finance
    • Market Trends
    • Stock Market
    • Entrepreneurship
    • Corporate News
    • Economic Policies
  • Science & Environment
    • Space Exploration
    • Climate Change
    • Wildlife & Conservation
    • Environmental Policies
    • Medical Research
  • Health
    • Public Health
    • Mental Health
    • Medical Breakthroughs
    • Fitness & Nutrition
    • Pandemic Updates
  • Sports
    • Football
    • Basketball
    • Tennis
    • Olympics
    • Motorsport
  • Entertainment
    • Movies
    • Music
    • TV & Streaming
    • Celebrity News
    • Awards & Festivals
  • Crime & Justice
    • Court Cases
    • Cybercrime
    • Policing
    • Criminal Investigations
    • Legal Reforms
No Result
View All Result
  • Home
  • World News
    • Us & Canada
    • Europe
    • Asia
    • Africa
    • Middle East
  • Politics
    • Elections
    • Political Parties
    • Government Policies
    • International Relations
    • Legislative News
  • Business & Finance
    • Market Trends
    • Stock Market
    • Entrepreneurship
    • Corporate News
    • Economic Policies
  • Science & Environment
    • Space Exploration
    • Climate Change
    • Wildlife & Conservation
    • Environmental Policies
    • Medical Research
  • Health
    • Public Health
    • Mental Health
    • Medical Breakthroughs
    • Fitness & Nutrition
    • Pandemic Updates
  • Sports
    • Football
    • Basketball
    • Tennis
    • Olympics
    • Motorsport
  • Entertainment
    • Movies
    • Music
    • TV & Streaming
    • Celebrity News
    • Awards & Festivals
  • Crime & Justice
    • Court Cases
    • Cybercrime
    • Policing
    • Criminal Investigations
    • Legal Reforms
No Result
View All Result
Today Headline
No Result
View All Result
Home Business & Finance Economic Policies

Sri Lanka to continue Special Commodity food taxes to protect farmers todayheadline

December 19, 2024
in Economic Policies
Reading Time: 2 mins read
A A
0
3
SHARES
6
VIEWS
Share on FacebookShare on Twitter


ECONOMYENXT – Sri Lanka’s cabinet has decided not to abolish a Special Commodity Levy Act to maintain protection to farmers, and its impact on food prices, a government statement said.

On March 25, 2024, the then cabinet had decided to abolish the SCL Act and replace the tax with value added tax.

There were 63 items listed under the SCL Act.

The cabinet decided to reverse the decision to abolish the SCL Tax as the state will not be able to give protection to farmers and the impact on food prices.

While the SCL Act has the salutary effect on avoiding tax-on-tax, where value added tax is charged on top of other import duties as Sri Lanka has a plethora of border taxes, SCL levies are also imposed at very high rates on basic foods that provide calories to the malnourished.

High taxes on maize in particular makes protein for the children of poor families expensive.

The taxes on rice and potatoes are close to 50 percent.

Sri Lanka’s protectionist taxes, imposed under a self-sufficiency ideology and promote ‘domestic production’ pits farmers against malnourished children, critics have said.

A cabinet paper by President Anura Kumara Dissanayake proposing that the tax rates to continue from 2025-01-01 was approved by the cabinet.

Under an International Monetary Fund agreement Sri Lanka pledged to abolish the SCL and replace the tax with value added tax as it gave rise to corruption and was probably against the constitution.

SCL taxes are imposed at midnight, under ‘Minister’s Prerogative’ without consulting parliament which is supposed to have full control of finances.

Before the ‘Magna Carta’ Kings also imposed taxes without consulting representatives of the people through a ‘Royal Prerogative’ eventually leading to the birth of ‘taxation by consent’. (Colombo/Dec19/2024)

Tags: commoditycontinuefarmersfoodLankaProtectspecialSriTaxestodayheadline
Previous Post

New data shows just how bad the climate insurance crisis has become todayheadline

Next Post

Putin says Russia is getting closer to achieving primary goals in Ukraine By Reuters todayheadline

Related Posts

ET logo

Vancouver riders take to the streets for men’s health todayheadline

May 20, 2025
4
This 'fourth branch of the government' could be what dooms Trump's bill: analysis

This ‘fourth branch of the government’ could be what dooms Trump’s bill: analysis todayheadline

May 20, 2025
7
Next Post
© Reuters. Russia's President Vladimir Putin attends his annual end-of-year press conference and phone-in, in Moscow, Russia December 19, 2024. REUTERS/Maxim Shemetov

Putin says Russia is getting closer to achieving primary goals in Ukraine By Reuters todayheadline

  • Trending
  • Comments
  • Latest
Family calls for change after B.C. nurse dies by suicide after attacks on the job

Family calls for change after B.C. nurse dies by suicide after attacks on the job

April 2, 2025
Pioneering 3D printing project shares successes

Product reduces TPH levels to non-hazardous status

November 27, 2024

Hospital Mergers Fail to Deliver Better Care or Lower Costs, Study Finds todayheadline

December 31, 2024

Police ID man who died after Corso Italia fight

December 23, 2024
Harris tells supporters 'never give up' and urges peaceful transfer of power

Harris tells supporters ‘never give up’ and urges peaceful transfer of power

0
Des Moines Man Accused Of Shooting Ex-Girlfriend's Mother

Des Moines Man Accused Of Shooting Ex-Girlfriend’s Mother

0

Trump ‘looks forward’ to White House meeting with Biden

0
Catholic voters were critical to Donald Trump’s blowout victory: ‘Harris snubbed us’

Catholic voters were critical to Donald Trump’s blowout victory: ‘Harris snubbed us’

0
Trump signs bill outlawing ‘revenge porn’

Trump signs bill outlawing ‘revenge porn’

May 20, 2025

Novisto helps companies track their sustainability efforts. Check out the 17-slide deck it used to raise a $27 million Series C.

May 20, 2025
US terminates $60 million in Harvard grants over alleged antisemitism

US terminates $60 million in Harvard grants over alleged antisemitism

May 20, 2025
China's CATL jumps in Hong Kong debut in world's biggest listing this year

China's CATL jumps in Hong Kong debut in world's biggest listing this year todayheadline

May 20, 2025

Recent News

Trump signs bill outlawing ‘revenge porn’

Trump signs bill outlawing ‘revenge porn’

May 20, 2025
0

Novisto helps companies track their sustainability efforts. Check out the 17-slide deck it used to raise a $27 million Series C.

May 20, 2025
3
US terminates $60 million in Harvard grants over alleged antisemitism

US terminates $60 million in Harvard grants over alleged antisemitism

May 20, 2025
4
China's CATL jumps in Hong Kong debut in world's biggest listing this year

China's CATL jumps in Hong Kong debut in world's biggest listing this year todayheadline

May 20, 2025
1

TodayHeadline is a dynamic news website dedicated to delivering up-to-date and comprehensive news coverage from around the globe.

Follow Us

Browse by Category

  • Africa
  • Asia
  • Basketball
  • Business & Finance
  • Climate Change
  • Crime & Justice
  • Economic Policies
  • Elections
  • Entertainment
  • Entrepreneurship
  • Environmental Policies
  • Europe
  • Football
  • Gadgets & Devices
  • Health
  • Medical Research
  • Mental Health
  • Middle East
  • Motorsport
  • Olympics
  • Politics
  • Public Health
  • Relationships & Family
  • Science & Environment
  • Software & Apps
  • Space Exploration
  • Sports
  • Stock Market
  • Technology & Startups
  • Tennis
  • Travel
  • Uncategorized
  • Us & Canada
  • Wildlife & Conservation
  • World News

Recent News

Trump signs bill outlawing ‘revenge porn’

Trump signs bill outlawing ‘revenge porn’

May 20, 2025

Novisto helps companies track their sustainability efforts. Check out the 17-slide deck it used to raise a $27 million Series C.

May 20, 2025
  • Education
  • Lifestyle
  • Technology & Startups
  • About us
  • Contact
  • Advertise with Us
  • Privacy & Policy

© 2024 Todayheadline.co

Welcome Back!

OR

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Business & Finance
  • Corporate News
  • Economic Policies
  • Entrepreneurship
  • Market Trends
  • Crime & Justice
  • Court Cases
  • Criminal Investigations
  • Cybercrime
  • Legal Reforms
  • Policing
  • Education
  • Higher Education
  • Online Learning
  • Entertainment
  • Awards & Festivals
  • Celebrity News
  • Movies
  • Music
  • Health
  • Fitness & Nutrition
  • Medical Breakthroughs
  • Mental Health
  • Pandemic Updates
  • Lifestyle
  • Fashion & Beauty
  • Food & Drink
  • Home & Living
  • Politics
  • Elections
  • Government Policies
  • International Relations
  • Legislative News
  • Political Parties
  • Africa
  • Asia
  • Europe
  • Middle East
  • Artificial Intelligence
  • Cybersecurity
  • Emerging Technologies
  • Gadgets & Devices
  • Industry Analysis
  • Basketball
  • Football
  • Motorsport
  • Olympics
  • Climate Change
  • Environmental Policies
  • Medical Research
  • Science & Environment
  • Space Exploration
  • Wildlife & Conservation
  • Sports
  • Tennis
  • Technology & Startups
  • Software & Apps
  • Startup Success Stories
  • Startups & Innovations
  • Tech Regulations
  • Venture Capital
  • Uncategorized
  • World News
  • Us & Canada
  • Public Health
  • Relationships & Family
  • Travel
  • Research & Innovation
  • Scholarships & Grants
  • School Reforms
  • Stock Market
  • TV & Streaming
  • Advertise with Us
  • Privacy & Policy
  • About us
  • Contact

© 2024 Todayheadline.co