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VIDEO: Govt imposes 10% tax on gold imports - official
Jun 21, 201312:07 PM
Sri Lanka has imposed a 10 per cent tax on gold imports with immediate effect, a top government official said on Friday.
“The government has imposed a 5 per cent customs duty and another 5 per cent surcharge on gold imports,” a top government official who is involved with the decision making told Reuters on condition of anonymity.
“There is an increase in gold imports and we have seen some people using the situation as an arbitrage with India having a tax. We also have found some leackages and we want to prevent this.”
Recently, Sri Lankan customs nabbed a series of people suspected of smugling gold out of the country at airports. - Reuters
