The Ministry of Finance has announced changes that will affect the prices of fuel and LP gas from January next year.
According to the Tax Policy Advisor of the Ministry of Finance Thanuja Perera, the prices of fuel and LP gas will increase due to the implementation of the Value-Added Tax at 18%.
Perera said, however, that the Finance Ministry has decided to remove the 7.5% Ports and Airports Development Levy (PAL) for fuel and LP gas.
Perera further said the Ports and Airports Development Levy (PAL) for fuel and LP gas will be removed once the VAT comes into effect from January 01, 2024. (NewsWire)