The Cabinet of Ministers has granted approval to draft a new Excise bill today (14 February). The current Excise bill is over a century-old piece of legislation (111), passed during the colonial times.
The proposal to draft a new Excise bill was presented by President Ranil Wickremesinghe in his capacity as Minister of Finance.
Excise Oridnance of 1912 regulated the usage, import, export transport, manufacture, sale and posession of liquor and other such intoxicating substances and other relevant business, issuance of licenses and imposition of taxes regarding the same.
by Daily News Sri Lanka
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