Sri Lanka Proposes Phase-Out of Certain Import Tariffs, Fees

Sri Lanka recently proposed the phasing out of certain fees and tariffs, including para-tariffs on imports, the Customs Excise and Cess (CESS) levy and Ports and Airports Development Levy (PAL), the Hong Kong Trade Development Council reported Dec. 1. The country proposed para-tariffs to be phased out in five years from Jan. 1, the CESS levy within three years, and the PAL within five years, except for levies on solar panels and inverters. Sri Lanka also will revise its “current three-band customs import duty system” of 0%, 10% and 15%, to 0%, 15% and 20%, respectively, HKTDC said.