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Friday, November 07, 2008 - 4.24 GMT
Budget at a glance

 

* Public Servants cost of living allowance increased from Rs 1,000 to Rs 3,500

* Cost of living allowance given to pensioners increased from Rs 1,440 to Rs 2,000 with effect from January 1

* A Nation Building Tax in turnover on imports, manufacturing or services other than on the banking and financial sector for a period of two years

* Special monthly allowance paid to servicemen engaged in action increased from Rs 3,000 to 5,000

* Present 15 per cent VAT decreased to 12 with effect from January 1, 2009. This will bring immediate relief on tourism, industries, leasing, construction, insurance, telecommunication and production sectors. The 20 per cent VAT on motor vehicles, luxury goods and liquor will continue

* Import duty on wheat grain increased from 6 per cent to 10 per cent

* A 15 per cent CESS imposed on agricultural produce similar to black gram, kurakkan, cowpea and sesame seed

* The Special Commodity Levy in imported milk powder increased from Rs 5 to Rs 15

* The Special Commodity Levy on imported sugar increased from Rs 14 to Rs 16.

* A CESS of Rs 25 on one kilo of rubber latex and Rs 4 on one kilo of tea imports

* A 25 per cent CESS on imported maize and animal feed

* A 5 per cent CESS on paper imports

* A 15 per cent CESS on all imports of furniture

* A CESS of Rs 200 per kilo on all imported footwear, hand bags, belts and other leather goods and exempt all raw material required for manufacturing of such products locally from import duty and VAT

* CESS on polythene and plastic increased from one per cent to 5 per cent

* Increase CESS on ayurvedic medicine imports (amount not specified)

* Increase existing CESS on all imports of fruits and vegetables (amount not specified)

* Increase CESS on sarees, sarongs, readymade garments and material imported for local consumption by 50 per cent

*Increase of CESS on the import of fridges, fans and ceramic ware by 50 per cent

*Increase of CESS on chocolates, biscuits and sweets by 50 per cent

*A 100 per cent increase of CESS on all handicraft imports

*A CESS of Rs 10 on a kilo of imported salt

*Children between one and five years of Samurdhi families to receive Rs 200 milk subsidy each

*Places of religious worship, schools and voluntary organizations to receive Rs 100 million to promote Mathata Thitha programme

*Rs 6,000 million allocated for Mihin Air revival and construction of Weerawila airport

*Rs 950 million to improve universities

*Income tax payable by any Sri Lankan professional serving a company or partnership based in Sri Lanka earning foreign currency restricted to 20 per cent

*A 10 per cent telephone levy applicable to mobile and cordless phones extended to fixed telephones

*Port and Aviation Levy increased from three to five per cent

*Setting up of a Presidential Task Force to prepare a National Tax Policy for implementation from 2010






 


 
   
   
   
   

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Last modified: November 07, 2008.

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