The government has decided to suspend the collection of the acre levy imposed on agricultural land, Minister of Agriculture Mahinda Amaraweera announced on Tuesday (Dec 12).
According to The Morning, Minister Amaraweera clarified that the acre levy is a tax charged at the rate of Rs. 100 per acre on agricultural land.
He further said that the levy is collected by the Agrarian Development Department through Development Officers.
The minister went on to note that the collected levy is then credited to the government’s revenue.
“President Ranil Wickremesinghe had suggested the suspension of the acre levy at a recent Cabinet meeting.
“The President had pointed out that the government was incurring a higher expenditure in collecting the levy than the income received from it,” he said.
Minister Mahinda Amaraweera added that the Ministry intends to completely suspend the acre levy in the future. (NewsWire)