ANNOUNCED AS TEMPORARYNo
Internal taxation of imports
Effective 10 April 2014, Sri Lanka imposed a Special Commodity Levy ofRs.5perkg ontheimport ofriceforaperiodofthreemonths.
On 9 July 2014, according to the Recent Economic Development report of the Central Bank of Sri Lanka, the above reduced levy was extended for 5 months. On 5 September 2014, the levy was reduced further to Rs. 1 per kg. (see related measure).
The Special Commodity Levy is a composite duty on the product and no other tax, duty, cess etc. is applicable on the said product while the levy is valid. The levy on rice will be inplaceofCustomsdutyofRs.20perkg,12percentofValue Added Tax (VAT), 2 per cent of Nation Building Tax (NBT) and 5 per cent of Ports and Airports Development Levy (PAL).
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