Liquor prices upped

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Prices of liquor were increased in line with the increase in Value Added Tax (VAT) with effect from 1 June, Commissioner of Excise (Law Enforcement) Kapila Kumarasinghe said.

He added the discretion to increase prices of liquor in line with the increase in VAT solely lies with the liquor companies and that they could even pass such increases onto consumers. He added the increase from 1 June is however in different margins.

VAT was increased from 8 per cent to 12 per cent on Tuesday (31 May).

Meanwhile, the price of a cigarette was also increased by Rs 5 with effect 1 June.

BY Faadhila Thassim