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Sri Lanka: Revised list of trade taxes for import substitution economy

Sri Lanka has published a series of value-based taxes to limit competition from imports for domestic producers and keep prices up, as part of an import substitution economy. A revised list of import duties was released with a maximum rate at 15 percent and some items coming in at zero duty. Over 2,575 items and sub-items came under the CSES taxes in a kind of negative list layer on top.

Many vegetables are taxed at 45 percent or 200 rupees a kilogram. Some exported teas are taxed at 15 percent. Permission had been given to allow the import of raw material with permission from secretary to the relevant ministry such as industries or agriculture and the Director General of customs.

[ Rs 100 = €0,46 ]


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