Cabinet adds NBT to alcohol

Cabinet today imposed the Nation Building Tax (NBT) on alcohol products in addition to existing taxes.

Meanwhile the NBT currently imposed on the following goods and services are to be lifted:

• Equipment used for the construction of greenhouses, polytunnels aimed at utilizing advanced technology for agricultural activities
• Coconut oil and coconut related products
• Gemstones imported with the intention of cutting, polishing and re-exporting
• Sports equipment and sports gear (that do not operate by motors) necessary for water sports such as rowing, kayaking, kite surfing and diving
• Sports equipment and sports gear (that do not require power) necessary for air sports including gliders, air balloons, dirigible, parachutes and paragliders
• Services provided by the Sri Lanka Deposit Insurance Scheme