Sri Lanka to cut tea marketing levy on exports
ECONOMYNEXT – Sri Lanka’s Cabinet of ministers has approved a proposal by the Plantation Industries Ministry to reduce a levy imposed on tea exports to three rupees a kilo from 3.50 rupees, the state information office said.
The amendment of the Tea Promotion and Marketing levy on tea exports will be prepared through the legal draftsman and presented to for parliamentary approval, a statement said.
The levy was imposed to raise funds to promote Ceylon tea globally with the long-delayed marketing campaign set to start in September in Russia, one of the biggest markets for the island’s main agricultural export.
The statement said the decision to reduce the tea export levy was taken considering rising costs faced by exporters who already pay a variety of other taxes.