Customs Duty

(i) The present 4 band tariff structure of exempt, 7.5%, 15% and 25% will be changed

as exempt, 15% and 30%.

 

(ii) Custom Duty will be revised on following items:

– Beedi leaves, Beedi, Garments, Foot-wear, Beer, Wine, Whisky, and Ethanol

– Agriculture machinery and equipment, dairy industry machinery and equipment and fishing nets

– Sports equipment and Musical instruments

– yachts , caravan carriages, surfing equipment and mini cruise boats identified under specified HS Code No

 

(iii) Certain items in the negative list ( tiles, ceramic and sanitary ware) will be removed

 

(iv) Sri Lanka will complete its commitments on Tariff Liberalization (Phase I) of the South Asian Free Trade Area effective from November 21, 2015.

 

(v) Sri Lanka will fulfill its December 2015 target of commitments on the Tariff Liberalization (Phase II) of the South Asian Free Trade Area effective from November 21, 2015.

 

[ Relevant Gazette will be issued specifying the rate change with effect from November 20, 2016]

 

Web Link

http://www.customs.gov.lk/tariff/bud2016cid.pdf

Leave a Reply

Your email address will not be published. Required fields are marked *