SMEs exempted from Trade Fees until 2027

Small and Medium Enterprises (SMEs) will be exempted from a maximum of Rs 5000 on their annual trade fees paid to the District Councils or Municipalities.

The new regulations which have been amended by the Ministry of Finance, Planning and Economic Development will be enacted retroactively as from January 2021 and will be effective until 2027.

The Government has announced the extension of this scheme in a bid to support SMEs facing financial issues due to the harsh economic conditions.