Sri Lanka, May 16 -- The Ministry of Finance, Planning and Economic Development of Sri Lanka has officially announced the implementation of a temporary 50% surcharge on applicable Customs Import Duty for specified imported goods.

According to an extraordinary gazette notification issued by the Ministry of Finance, Planning and Economic Development, the order has been enacted by virtue of the powers vested under Section 10 A of the Customs Ordinance (Chapter 235), as amended by Act No. 83 of 1988.

The Ministry of Finance, Planning and Economic Development confirmed that the 50% surcharge will apply to both General and Preferential import duty bases.

The new tax measure takes effect from today (16), and will remain in force for a period ...