Export tax on raw materials increased
4 June 2008The Export Development and International Trade Ministry of Sri Lanka has increased the export cess on raw hides and skins. Revised tax for raw hides and skins is 50% of FOB value or Rs350 per kg which drops to 25% of the FOB value or Rs225 per sq ft for the wet state.
The scarcity of local leather has been a major issue with regard to exports of leather, leather products and footwear. Local tanneries are not expanding due to restrictions imposed by the Central Environment Authority.
Source: Daily News, Colombo
