ANNOUNCEMENT 03 Jun 2020

Sri Lanka has amended the cess applicable on the imports of certain cement products.

NUMBER OF INTERVENTIONS

2

  • 1 harmful
  • 1 neutral
  • 0 liberalising

SOURCE

Extraordinary Gazette 2178/21-2020
http://documents.gov.lk/files/egz/2020/6/2178-21_E.pdf

Inception date: 03 Jun 2020 | Removal date: 30 Jun 2020

Internal taxation of imports

On 3 June 2020, the Sri Lankan Minister of Industrial Export and Investment Promotion through Extraordinary Gazette No. 2178/21 amended the Cess on imports of the following goods - 

  • The cess on white cement has been amended from 8% to Rs. 3 per kg (~USD 0.017) (HS 2523.21)
  • The cess on Water-proof cement, boiler cement and similar composition has been amended from 8% to Rs. 3 per kg. (HS 2523.29)
  • The cess on Other Portland cement imported in packing of 50 kg. and below has been amended from 14% to Rs. 5 per kg. (~USD 0.03) (HS 2523.29)
  • The cess on Other portland cement imported in packing of over 50 kg. Or in bulk has been amended from 8% to Rs. 3 per kg. (HS 2523.29)

 The cess on the above goods has been reduced from 1 July 2020 (see related State Act).

According to the Sri Lanka Export Development Act, Cess is charged on the aggregate of a sum equivalent to the value of the goods for customs duty purposes at the time of imports and a sum equivalent to 10% of such value.

*Sri Lankan Rupee to USD as on 3 June 2020 - Rs. 185.77/USD

AFFECTED SECTORS

 
374

AFFECTED PRODUCTS

 
252321 252329
Inception date: 03 Jun 2020 | Removal date: open ended

Internal taxation of imports

On 3 June 2020, the Sri Lankan Minister of Industrial Export and Investment Promotion through Extraordinary Gazette No. 2178/21 imposed a cess of  Rs.1 per kg. (~USD 0.005) on the imports of Cement Clinkers (HS 2523.10).

According to the Sri Lanka Export Development Act, the cess will be charged on the aggregate of a sum equivalent to the value of the goods for customs duty purposes at the time of imports and a sum equivalent to 10% of the such value.

*Sri Lankan Rupee to USD as on 3 June 2020 - Rs. 185.77/USD

 
374
 
252310