Sri Lanka, Nov. 7 -- Locally produced coconut oil and palm oil are subjected to Value Added Tax and Social Security Contribution Levy, while imported coconut oil and palm oil are subjected to Special Commodity Levy at Rs. 150 per kilogram and Rs. 275 per kilogram, respectively.
To ensure a level playing field, it is proposed to remove the Special Commodity Levy on imported coconut oil and palm oil and instead implement the general tax structure including Value Added Tax.
It is also proposed to implement this proposal from April 2026.
Published by HT Digital Content Services with permission from Lanka Business Online....