The Finance Ministry has announced the removal of the port and airport levy (PAL) from fuel and gas, effective January 1 of the upcoming year, as part of the implementation of the Value Added Tax (VAT).
Tax Policy Advisor Thanuja Perera shared this information at a dedicated news conference held at the Presidential Media Centre (PMC) today.
Perera clarified that the 7.5 percent PAL would be waived during the imposition of the 18 percent VAT on fuel and gas. As a result, the prices of diesel and petrol are expected to remain unaffected by the full 18 percent VAT increase, ensuring that they do not rise by the same percentage.
