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Minister of State for Finance Ranjith Siyambalapitiya says that the Cabinet has accepted the proposal to abolish the Special Merchandise Tax from next January.
The State Minister points out that a new tax will be introduced to protect the local producer and protect the consumer.
Speaking to the media this morning (29) in the Ruwanwella area, the State Minister further stated that the simplification of import and export taxes is one of the reasons for taking this decision.
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