Sri Lankan president Gotabhaya Rajapaksa announces cancellation of taxes for gems and gold .

Sri Lanka : President Gotabaya Rajapaksa has ordered the removal of taxes imposed on the profits earned by the gem and jewelry manufacturers and on gold imports to further strengthen the industries, local media reported Tuesday.

14% for gem and 15% tax on gold imports will be removed. As a result, gold sellers have been forced to reduce the price of gold to Rs 15,000 per ounce

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