THE CABINET APPROVED THE REVISION OF THE EXCISE ACT, WHICH WAS INTRODUCED IN 1912, IN 2023.

It is stated that the Ordinance currently used in Sri Lanka for the use of alcohol and tobacco, related businesses and regulation, issuance of licenses and taxation was established in Sri Lanka in 1912.

It is stated that it has been decided to make the amendment to change the laws to match the present.

The proposal in this regard has been presented as a proposal in the interim budget of 2022 and accordingly the cabinet has received approval to advise a draftsman to prepare a draft law for that matter.

It is reported that the proposal was presented by the President.

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