Sri Lanka, Nov. 7 -- The President proposes to revise the current Customs Import Duty rates of 0%, 15%, 20%, in line with the National Tariff Policy, to 0%, 10%, 20%, 30%, effective from April 2026.
Also, with the aim of boosting economic growth by increasing the competitiveness of external trade, the government expects the gradual phase out of para-tariffs through the proposed revisions in Customs Import Duty rates.
They propose to prepare and implement a plan according to a time frame for the phaseout of para-tariff with a minimal impact on government revenue.
Published by HT Digital Content Services with permission from Lanka Business Online....