Sri Lanka Lifts All Taxes on Gold Imports to Boost Jewelry Industry

14th March 2010, www.news.lk

Central Bank announced that with effect from 1st March 2010, all taxes and other levies applicable on gold imports have been removed.

Sri Lanka has lifted taxes and levies on gold imports to promote jewelry industries in the country. The Central Bank said the removal of all applicable import taxes and other levies on gold imports will reduce the gold prices in the market and contribute to promote gold and jewelry industry in the country.

In a statement, the Bank said that accordingly, commercial banks and other authorized persons can now increase their gold imports to meet the industry requirements. The Central Bank said taxes and other applicable levies on gold imports have been removed from March 01.