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Message: <blockquote data-quote="LOL_SEEN" data-source="post: 20751978" data-attributes="member: 558837">Lion Brewery permitted to import beer without import taxes- FM            The Finance Ministry yesterday said that  Lion Brewery Ltd in Biyagama has been permitted to import beer for a  period of three months and imposed taxes and other levies equal to that  of locally manufactured beer at the point of importation instead of  import taxes and other levies. The Ministry sent the following  clarification on the news item which Daily Mirror carried on October 3,  2016 under the title “Monks up in Arms against import tax concession on  beer’.  This beer manufacturing company in the  country which was fully affected by the recent flood has been provided  the opportunity to import beer with taxes and other levies applicable to  that of locally produced beer.  The manufacturing plant and machinery of  M/s Lion Brewery Company at Biyagama was completely damaged due to the  recent flood in the area. This company which pays excise and other  levies of over Rs.25 billion annually to the government had made a  request to the treasury for a tax concession for up to a period of three  months.This company was manufacturing beer  locally which was subject to an excise duty of Rs.190 per liter for  alcohol volume less than 5 per cent and Rs.315 per litre for alcohol  volume more than 5 per cent.  Since their manufacturing plant was fully  destroyed they were unable to manufacture beer locally and they could  not afford to import and sell the goods at the current market price  given the fact that the import duties alone exceed the market price. The  company had made a request for a waiver on excise duty and other levies  to import consignment required for a period of three months. As of now  the all inclusive levies for import of Beer exceeds Rs.700 per liter in  addition to CIF cost of Rs.100 per litre. Accordingly, the import cost  will exceed the market price compelling the company to give up the  production.  Therefore considering all these facets the  government in order to match the market price, permitted the company to  import beer, required for a period of three months and impose taxes and  other levies equal to that of locally manufactured beer at the point of  importation instead of import taxes and other levies.</blockquote>

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