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Asian Tribune is published by World Institute For Asian Studies|Powered by WIAS Vol. 12 No. 2830

Exporters delighted on reduction of economic charges on exports

By Quintus Perera – Asian Tribune

Colombo, 10 November, ( Lakshman De Silva, Acting Chairman of the Exporters Association of Sri Lanka indicated that the reduction of Economic Service Charge (ESC) from 0.5% to 0.25% on all exports is most welcome as it is a step in the right direction through the Budget 2008.

His statement further indicated that the tax and other benefits to the Gems and Jewelry Industry are positive signals as they will stimulate more exports in this sector.

However, the reduction in the tax holiday to a three year period, may act as a disincentive and may stifle the growth of the Industry in the future.

It is also hoped that the proposed increase in the Export license fee will be kept to a minimum or better still if no burdens are placed on the export sector in order that the export sector remains competitive and bring in much needed foreign exchange to the country.

- Asian Tribune -

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