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Sri Lanka raises fag taxes to boost revenues

July 31, 2013 (LBO) - Sri Lanka has raised taxes on cigarettes to bring in an additional 1.
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4 billion rupees in revenues for the rest of the year, an official said. Treasury Secretary P B Jayasundera said tax revenues were picking up with an improvement seen in customs collections.
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The price of cigarettes based on length has been raised by 2.

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00 rupees and 3.00 rupees with the tax increase.
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Deputy Treasury Secretary S R Attygalle said the tax increase will bring in 1.4 billion rupees in revenues for the rest of the year, making up for any shortfalls.

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Cigarette sales have weakened in the first four months according to a fiscal report and excise taxes were below target.


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