Pre-budget bonanza for small enterprises

The government yesterday announced the reduction of taxes on motorcycles with engine capacity below 150 CC, mini lorries and single cabs. It also announced the reduction of the 10 percent telecommunication tax on internet data. The government has done away with the import tax imposed on 90 percent of the value of motorcycles under 150 CC capacity and instead imposed the tax on the engine capacity. Finance Minister Mangala Samaraweera said, at a news conference at the Finance Ministry, that there would be a considerable reduction in the prices of motorcycles. He said there would be Rs. 300,000 reduction on the price of mini lorries and single cabs.