Sri Lanka Brodcasting Corporation

Sat11252017

Last updateSat, 25 Nov 2017 7am

Local News

The government says GSP plus concession will bring enormous benefits to Sri Lanka.

The government says the European Union’s decision to provide GSP plus concession back to Sri Lanka will bring enormous benefits to the business community and the people of Sri Lanka. It will be conducive for imports of garment, fish products, rubber products and many other items manufactured in Sri Lanka.

Due to this concession current 66 percent tax imposed on such commodities will be removed. Sri Lanka lost this concession in 2010 and that incurred over 37 billion rupees loss to the country. However, the European Union has changed their harsh stance mainly due to the positive improvement in governing policies of the present rule.