Sri Lanka Imposes 50% Customs Surcharge on Imported Vehicles

COLOMBO (News 1st)The Ministry of Finance has taken steps to impose a 50% surcharge on the applicable Customs Import Duty for imported vehicles, effective from today.

Accordingly, an additional 50% surcharge will be levied on top of the 30% Customs Import Duty previously charged for an imported motor car.

Consequently, a 50% import surcharge must be paid on both the General and Preferential duty bases.

This additional duty applies to passenger motor cars, buses, jeeps, vans, goods transport vehicles, ambulances, motor vehicles, and land vehicles as well.

The additional duty will also be enforced on fully electric vehicles and hybrid vehicles falling under the hybrid vehicle category.

According to the notification issued under the signature of President Anura Kumara Dissanayake, this 50% surcharge is scheduled to be charged for a period of three months starting from today.

However, it also states that this new 50% customs duty will not apply to vehicles for which Letters of Credit (LCs) have been opened on or before May 15th.