Sri Lanka slashes import levy on Maldive fish by nearly 97%

Sri Lanka has sharply reduced the special commodity levy on imports of “Maldive fish” by nearly 97 percent.

The tax cut, which took effect on Friday, was part of larger cuts on several food items announced by Sri Lankan President Anura Kumara Dissanayake when presenting the country’s 2027 state budget on Thursday.

The lower levies also apply to sprats and dried chilies.

The special commodity levy on Maldive fish was reduced from LKR 302 to LKR 10 per kilogram, marking a 96.69 reduction.

However, the reduction is not a preferential measure applying exclusively to products originating from the Maldives.

“Maldive fish” is the official product description used in Sri Lanka’s tariff classification, covering dried, salted, or smoked fish.

Meanwhile, the levy on imported sprats was reduced from LKR 100 to LKR 10 per kilogram, and the levy on dried chili, both powdered and unpowdered, was reduced by LKR 50 per kilogram.

According to Dissanayake, the tax cuts aim to minimize the cost-of-living pressure on consumers caused by rising prices of essential food items.

The decision to reduce the levy on fish imports is expected to benefit Maldivian dried-fish exporters.