Following a proposal by Minister of Finance and Media Mangala Samaraweera to amend the Nation Building Tax Act, No. 09 of 2009, Cabinet approval has been granted to remove the NBT imposed on certain goods.
Accordingly, the following goods will be exempt from the NBT.
- Equipment used for the construction of greenhouses, polytunnels aimed at utilizing advanced technology for agricultural activities
Coconut oil and coconut related products - Gemstones imported with the intention of cutting, polishing and re-exporting
- Sports equipment and sports gear (that do not operate by motors) necessary for water sports such as rowing, kayaking, kite surfing and diving
- Sports equipment and sports gear (that do not require power) necessary for air sports including gliders, air balloons, dirigible, parachutes and paragliders
- Services provided by the Sri Lanka Deposit Insurance Scheme.
The NBT will however be levied on liquor in addition to existing taxes.
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