Government to Scrap VAT on Chemical Fertilizers

COLOMBO (News 1st); Sri Lankan Minister of Agriculture Mahinda Amaraweera has announced plans to remove Value Added Tax (VAT) on chemical fertilizers.

Minister Amaraweera stated that the VAT exemption is planned to take effect from the upcoming Yala season, which typically commences in March or April. 

He further revealed that he had discussed the proposal with President Ranil Wickremesinghe and received a positive response.

This measure comes as a response to the rising cost of fertilizer, a crucial input for Sri Lankan farmers, which has significantly impacted agricultural production in recent times.

The minister assured that all necessary chemical fertilizers for the upcoming Maha Season have already been imported and will be provided to farmers at the pre-VAT prices.