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» "පියසේනට දැං සනීපයි..."
Sri Lanka cuts taxes on fuel to keep retail prices below formula EmptyToday at 5:00 pm by Ethical Trader

» Dividend Announcement
Sri Lanka cuts taxes on fuel to keep retail prices below formula EmptyToday at 4:52 pm by Ethical Trader

» TJL.N0000 (Textured Jersey Lanka PLC.)
Sri Lanka cuts taxes on fuel to keep retail prices below formula EmptyToday at 11:50 am by serene

» CFVF - First Capital
Sri Lanka cuts taxes on fuel to keep retail prices below formula EmptyToday at 7:43 am by serene

» Thread for News on CSE and SL Economy
Sri Lanka cuts taxes on fuel to keep retail prices below formula EmptyYesterday at 7:18 pm by NIRMALSG

» විද්‍යාව මිස්ගේ පාඩම...
Sri Lanka cuts taxes on fuel to keep retail prices below formula EmptyYesterday at 7:27 am by sanjulanka

» Trading Journal
Sri Lanka cuts taxes on fuel to keep retail prices below formula EmptyTue Jul 16, 2019 11:50 pm by pathfinder

» වචන නම් අපේ ඒත් තනුව ?????????
Sri Lanka cuts taxes on fuel to keep retail prices below formula EmptyTue Jul 16, 2019 8:08 pm by Rana

» Access Engineering AEL Technical Analysis
Sri Lanka cuts taxes on fuel to keep retail prices below formula EmptyMon Jul 15, 2019 3:07 pm by NIRMALSG

» Tourism sector
Sri Lanka cuts taxes on fuel to keep retail prices below formula EmptySun Jul 14, 2019 8:57 am by NIRMALSG

» Cricket, meet Capitalism
Sri Lanka cuts taxes on fuel to keep retail prices below formula EmptyFri Jul 12, 2019 1:24 pm by කිත්සිරි ද සිල්වා

» LFIN - LB Finance
Sri Lanka cuts taxes on fuel to keep retail prices below formula EmptyThu Jul 11, 2019 11:27 am by Ethical Trader

» අපි නොදන්න චෙස් කිව්වලු !
Sri Lanka cuts taxes on fuel to keep retail prices below formula EmptyTue Jul 09, 2019 6:25 pm by serene

» Stock Market to stay Bullish
Sri Lanka cuts taxes on fuel to keep retail prices below formula EmptyMon Jul 08, 2019 7:51 am by කිත්සිරි ද සිල්වා

» Is an emoji a word or a gesture?
Sri Lanka cuts taxes on fuel to keep retail prices below formula EmptyMon Jul 08, 2019 7:46 am by කිත්සිරි ද සිල්වා

»  Rajgama Heroes !
Sri Lanka cuts taxes on fuel to keep retail prices below formula EmptyMon Jul 08, 2019 7:39 am by කිත්සිරි ද සිල්වා

» HHL.N0000 ( Hemas Holdings PLC)
Sri Lanka cuts taxes on fuel to keep retail prices below formula EmptySun Jul 07, 2019 12:25 pm by dhanurrox

» Checkmate, meatbags !
Sri Lanka cuts taxes on fuel to keep retail prices below formula EmptySun Jul 07, 2019 7:20 am by spw19721

» GLAS.N0000 (PIRAMAL GLASS CEYLON PLC)
Sri Lanka cuts taxes on fuel to keep retail prices below formula EmptySat Jul 06, 2019 8:13 am by කිත්සිරි ද සිල්වා

» සංචාරක පැමිණීම ක්‍රමයෙන් යහපත් වන ලකුණු
Sri Lanka cuts taxes on fuel to keep retail prices below formula EmptyFri Jul 05, 2019 6:11 pm by serene

» SAMP.N0000 (SAMPATH BANK PLC)
Sri Lanka cuts taxes on fuel to keep retail prices below formula EmptyThu Jul 04, 2019 8:55 am by serene

» Easter Sunday Attack and Sri Lanka
Sri Lanka cuts taxes on fuel to keep retail prices below formula EmptyThu Jul 04, 2019 8:46 am by කිත්සිරි ද සිල්වා

» අනං මනං! #/+?.<>
Sri Lanka cuts taxes on fuel to keep retail prices below formula EmptyWed Jul 03, 2019 10:07 pm by ruwan326

» First capital holdings
Sri Lanka cuts taxes on fuel to keep retail prices below formula EmptyWed Jul 03, 2019 1:37 pm by serene

» What to Analyse
Sri Lanka cuts taxes on fuel to keep retail prices below formula EmptyMon Jul 01, 2019 11:33 am by serene

» අනිසි ලෙස කොටස් මිල හැසිර වූ ආයෝජකයින් දෙදෙනෙකුට සුරැකුම්පත් කොමිසමෙන් නඩු
Sri Lanka cuts taxes on fuel to keep retail prices below formula EmptyFri Jun 28, 2019 2:11 pm by Ethical Trader

» අද වෙන්දේසියේ දී බිල්පත් පොළිය පහළට.
Sri Lanka cuts taxes on fuel to keep retail prices below formula EmptyFri Jun 28, 2019 7:46 am by serene

» AAIC.N0000
Sri Lanka cuts taxes on fuel to keep retail prices below formula EmptyFri Jun 28, 2019 7:33 am by serene

» SERV - The Kingsbury
Sri Lanka cuts taxes on fuel to keep retail prices below formula EmptyThu Jun 27, 2019 8:27 pm by ruwan326

» TPL.N0000 (TALAWAKALE PLANTATIONS )
Sri Lanka cuts taxes on fuel to keep retail prices below formula EmptyWed Jun 26, 2019 2:22 pm by nuwanmja

» Life After Google
Sri Lanka cuts taxes on fuel to keep retail prices below formula EmptyTue Jun 25, 2019 5:28 pm by කිත්සිරි ද සිල්වා

» S&P ශ්‍රී ලංකා 20 දර්ශකයේ වෙනසක්. CTC, NTB, රිචඩ් පීරිස් සහ ටෝක්යෝ සිමෙන්ති ඉවතට
Sri Lanka cuts taxes on fuel to keep retail prices below formula EmptyTue Jun 25, 2019 6:37 am by nihal123

» Future of Tea Industry
Sri Lanka cuts taxes on fuel to keep retail prices below formula EmptyMon Jun 24, 2019 6:54 pm by hammurabi

» Cricket !
Sri Lanka cuts taxes on fuel to keep retail prices below formula EmptyMon Jun 24, 2019 2:22 pm by කිත්සිරි ද සිල්වා

» DIPD.N0000 (Dipped Products)
Sri Lanka cuts taxes on fuel to keep retail prices below formula EmptyMon Jun 24, 2019 11:40 am by Ethical Trader

» DOCK.N0000 (COLOMBO DOCKYARD PLC)
Sri Lanka cuts taxes on fuel to keep retail prices below formula EmptySun Jun 23, 2019 9:14 pm by hammurabi

» මිල සූත්‍රය වැරදුණාද, වැරැද්දුවාද?
Sri Lanka cuts taxes on fuel to keep retail prices below formula EmptyFri Jun 21, 2019 5:25 pm by Ethical Trader

» Happy Father's Day !
Sri Lanka cuts taxes on fuel to keep retail prices below formula EmptyMon Jun 17, 2019 8:58 pm by spw19721

» DPL.N0000 (Dankotuwa Porcelain PLC)
Sri Lanka cuts taxes on fuel to keep retail prices below formula EmptySun Jun 16, 2019 7:12 am by NIRMALSG

» Re: Financial reports Q1-2019
Sri Lanka cuts taxes on fuel to keep retail prices below formula EmptyFri Jun 14, 2019 8:57 pm by dhanurrox

» SEYB.N0000 ( SEYLAN BANK PLC )
Sri Lanka cuts taxes on fuel to keep retail prices below formula EmptyThu Jun 13, 2019 8:11 pm by ruwan326

» NTB.N0000 (NATIONS TRUST BANK PLC)
Sri Lanka cuts taxes on fuel to keep retail prices below formula EmptyThu Jun 13, 2019 8:08 pm by ruwan326

» PABC.N0000 (Pan Asia Banking Corporation PLC)
Sri Lanka cuts taxes on fuel to keep retail prices below formula EmptyThu Jun 13, 2019 8:06 pm by ruwan326

» NDB.N0000 (NATIONAL DEVELOPMENT BANK PLC)
Sri Lanka cuts taxes on fuel to keep retail prices below formula EmptyThu Jun 13, 2019 7:58 pm by ruwan326

» HNB.N0000 ( Hatton National Bank PLC)
Sri Lanka cuts taxes on fuel to keep retail prices below formula EmptyThu Jun 13, 2019 7:57 pm by ruwan326

» HDFC.N0000 (HOUSING DEVELOPMENT FINANCE CORPORATION BANK OF SRI LANKA)
Sri Lanka cuts taxes on fuel to keep retail prices below formula EmptyThu Jun 13, 2019 7:48 pm by ruwan326

» DFCC.N0000 ( DFCC BANK PLC )
Sri Lanka cuts taxes on fuel to keep retail prices below formula EmptyThu Jun 13, 2019 7:45 pm by ruwan326

» COMB.N0000 ( COMMERCIAL BANK OF CEYLON PLC )
Sri Lanka cuts taxes on fuel to keep retail prices below formula EmptyThu Jun 13, 2019 7:43 pm by ruwan326

» Should CSE be like this? Whose FAULT is it?
Sri Lanka cuts taxes on fuel to keep retail prices below formula EmptyWed Jun 12, 2019 5:21 pm by Yin-Yang

» CCS.N0000 ( Ceylon Cold Stores)
Sri Lanka cuts taxes on fuel to keep retail prices below formula EmptyTue Jun 11, 2019 9:15 pm by ruwan326

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Sri Lanka cuts taxes on fuel to keep retail prices below formula

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Sri Lanka cuts taxes on fuel to keep retail prices below formula Empty Sri Lanka cuts taxes on fuel to keep retail prices below formula

Post by The Invisible on Fri Oct 19, 2018 7:44 am

ECONOMYNEXT - Sri Lanka has cut the tax component on a fuel price formula as oil prices rose and the rupee fell to keep retail prices below those indicated by a pricing formula, officials said.

"For example petrol carries an import duty of 35 rupees (per litre) but presently we charge only 18, that means 17 rupee waiver," Deputy Treasury Secretary S R Attygalle said.

"Similarly diesel carries a 15 rupee customs duty. There we charge only 3.85. So the balance is a waiver."

"If the fluctuations are huge, we may, from time-to-time adjust through a duty waiver."

Deputy Finance Minister Eran Wickremeratne said in India 82 rupees or 43 percent of the retail price was taxes on petrel and 57.52 rupees of 33 percent was taxes on diesel.

In Pakistan 38 percent of the petrol retail price was taxes and 58 percent of the diesel retail price was taxes.

In Singapore, taxes were 11 percent of retail prices for petrol with taxes at 30.78 rupees and in diesel it was 12 percent or the equivalent of 27.08 rupees.

Finance Minister Mangala Samaraweera said oil prices were now falling and may be next month, prices could fall.

Sri Lanka was applying a formula based on the landed cost, where the oil price changes and rupee depreciation were the biggest component.

Sri Lanka rupee soft-peg has failed twice in 2018 after the central bank built up unsterilized excess liquidity in money markets.

In the first quarter, after allowing unsterilized excess liquidity to build up from the pegging period and suddenly halting mopping up of inflows, it also injected cash by domestic asset purchases, completely undermining the credibility of the peg and floated while excess liquidity remained in the system.

After first run ended with interest rates rising, unsterilized liquidity was against built up and the rupee is has now partially recovered from the second run.

The rupee has fallen from 153 to the US dollar at the beginning of the 2018 to 171 now. In 2017, the despite the peg being on the strong side (inflows steadily mopped up) the rupee was pushed down under a loosely defined convertibility undertaking involving a real effective exchange rate index. (Colombo/Oct18/2018)
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Sri Lanka cuts taxes on fuel to keep retail prices below formula Empty Re: Sri Lanka cuts taxes on fuel to keep retail prices below formula

Post by Brave Heart on Fri Oct 19, 2018 9:39 am

Many thanks for the update.

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Sri Lanka cuts taxes on fuel to keep retail prices below formula Empty Re: Sri Lanka cuts taxes on fuel to keep retail prices below formula

Post by pjrngroup on Sat Oct 20, 2018 7:44 am

Thanks for Sharing Invisible.

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Sri Lanka cuts taxes on fuel to keep retail prices below formula Empty Re: Sri Lanka cuts taxes on fuel to keep retail prices below formula

Post by Ethical Trader on Sat Oct 20, 2018 2:55 pm

Thanks.
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Sri Lanka cuts taxes on fuel to keep retail prices below formula Empty Re: Sri Lanka cuts taxes on fuel to keep retail prices below formula

Post by Brave Heart on Sun Oct 21, 2018 9:49 am

How long they can control prices by adjusting taxes.

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