Press briefing of Cabinet Decision taken on 2024-03-25 (Subject to Confirmation at the next Meeting)

Repealing the Special Commodity Levy Act, No.48 of 2007

- Special Commodity Levy has been imposed under the Special Commodity Levy Act, No.48 of 2007 to charge a single composite levy to facilitate the importation of 64 goods classified under 210 HS Codes. Due to various issues arised during the implementation of the Levy, the necessity of repealing the said Levy Act has been identified. Accordingly, the proposal made by the Hon. President in his capacity as the Minister of Finance, Economic Stabilization and National Policies to instruct the Legal Draftsman to prepare a Bill to repeal the said Act, was approved by the Cabinet.