Sri Lanka, Feb. 11 -- The Cabinet of Ministers has approved the submission of a production tax order and an excise notification to Parliament for concurrence.

Effective from January 11, 2025, the production tax on all specified items, including motor vehicles, cigarettes, soft drinks, and tobacco, has been increased by 5.9%. This decision is empowered by an order issued under Section 3 of the Production Tax (Special Provisions) Act No. 13 of 1989, published in Extraordinary Gazette No. 2418/43 dated January 10, 2025.

Additionally, the alcohol tax has also been raised by 5.9% from the same date. This increase is outlined in Notification No. 01/2025, issued under Section 22 of the Excise Ordinance (Authority 52) and published in Extraordi...