COLOMBO, Sept 9 (NNN-SLNEWS) – Sri Lankan President, Gotabaya Rajapaksa, ordered the removal of taxes imposed on the profits earned by the gem and jewellery manufacturers, and on gold imports, to further strengthen the industries, local media reported.
Accordingly, a 14-percent income tax, imposed on the profit earned by the gem and jewellery manufacturers and a 15-percent tax on gold imports, will be removed.
President Rajapaksa, in discussions with the State Ministry of Gem and Jewellery Related Industries, said, removing these taxes would uplift the country’s lucrative industry.
State Minister, Lohan Ratwatte, presented 14 proposals to resolve the issues pertaining to Sri Lanka’s inability to become global hub for gems.
The president was further informed that, unregulated and illicit gem mining was taking place, in areas containing rich gem deposits of the Ratnapura District, in southwestern Sri Lanka, on a large scale.
He urged officials to immediately halt the gem mining activities that are carried out in a harmful manner to the environment, as well as, to remove barriers to the traditional gem mining industry.
The new Sri Lankan government, under President Rajapaksa, is aiming to boost exports this year, as at least four state ministers have been appointed to develop key local products, including gems.– NNN-SLNEWS
