Calls for Tax Cuts on Books & Newsprint to Boost Reading in Sri Lanka 📚

• Overview & Background: The 27th Colombo International Book Fair highlighted soaring costs of local and imported literature, making books a luxury for many households amid rising living costs. • Government Intentions: Prime Minister Dr. Harini Amarasuriya indicated the Government is focusing on revising the Value-Added Tax (VAT) imposed on books in the upcoming Budget to increase affordability. • Printing & Publishing Industry Impact: Heavy taxation on newsprint and imported books—which sell at up to five times their Indian prices—along with declining print advertising, continues to squeeze publishers and drive up retail prices for publishing & media and education sectors. • Educational & Digital Balance: Citing global trends such as Sweden reverting to physical books over digital screens to reverse falling literacy, industry stakeholders urge tax exemptions to make physical reading material widely accessible.