Sri Lanka to impose surcharge on customs duty on imports – tires, electrical items, chocolates and fruits
Sri Lanka’s Finance Ministry has decided to impose a 100% surcharge rate on both General and Preferential Custom Duty of multiple products with effect from Wednesday (June 01).
Imports and Exports Control Regulations on 369 items that could not be imported without an Import Control Licence have been relaxed. The 369 items can be imported without an Import Control Licence subject to applicable rules and regulations from 1st June 2022.
However, a decision has been taken to significantly increase import duties, customs duties and surcharges levied on these goods.
Accordingly, taxes will be increased on a number of imported foods including yoghurt, cheese, grapes and apples.
The special excise duty of Rs. 1,000 per kilogram of imported yoghurt has been increased to Rs. 2,000 per kilogram and the special excise duty of Rs. 400 per kilogram on all types of cheese will be increased to Rs. 600.
The special excise duty has been increased for Oranges from Rs. 200 per kilogram to Rs. 600 per kilogram and Grapes and apples has been increased from Rs. 300 to Rs. 600.
A surcharge of 75 percent has been imposed on the import of wheat flour as a percentage of the surcharge levied on customs duties.
A 50 percent surcharge will be levied on the import of chocolate and cocoa, the gazette notification said.
The surcharge on customs duties on foreign liquor including beer, wine, whiskey and vodka is 100%.
A 100% surcharge will be levied on foreign cigarettes and a 75% surcharge will be levied on foreign perfumes and a 75% surcharge is imposed on foreign shampoos.
A 50% surcharge on customs duty has also been imposed on the importation of tires for cars, motorcycles and three wheelers.
The surcharge levied on customs duty on foreign footwear is 75 percent.
A 100% surcharge has been imposed on the import of refrigerators, washing machines and electric ovens while a 100% surcharge on customs duty will be levied on the import of air conditioners.
Also a 100% surcharge has also been imposed on the importation of musical instruments.
Meanwhile the Association of Inland Revenue Commissioners convened a press conference and expressed their views on the new tax amendment.
Full list of products as released by the Finance Ministry:
- Sri Lanka to initiate new online passport application system May 30, 2023
- India extends USD 1 Billion Credit Line for Sri Lanka until March 2024 May 30, 2023
- Cabinet approves resume of the Colombo Light Rail Transit project May 30, 2023
- Sri Lanka Government to implement strict law enforcement against religious disharmony May 30, 2023
- Food insecurity improved in Sri Lanka but prevails within specific regions – FAO and WFP May 29, 2023
- ADB approves $350 Million for Sri Lanka economic stabilization programme May 29, 2023
- Ven. Rajangane Saddharathana Thera arrested May 29, 2023
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