Duty Concessions for Sri Lankan Businesses Earning Foreign Exchange

[Loungepuppy]

Hello Community,

Are there import duty concessions for Sri Lankan businesses that earn foreign exchange. If yes, can you please point me to a reliable information source on the topic. Thanks so much!

[Crosswind]

There are no specific duty concessions for businesses available at this time to import motor vehicles. The only way you can get a duty concession is if you can get a cabinet paper approved.

 

[ajm]

sorry, only loosely related to the OP.

what about a non-Sri lankan passport holder with a PR-status in Sri lanka? Do they pay less taxes or only if they are diplomats?

i have seen some cars sold by foreigners,which claim the taxes have to be paid additionally only  if the buyer is Sri lankan.

Edited March 19, 2018 by ajm

[iRage]

1 hour ago, ajm said:

sorry, only loosely related to the OP.

what about a non-Sri lankan passport holder with a PR-status in Sri lanka? Do they pay less taxes or only if they are diplomats?

i have seen some cars sold by foreigners,which claim the taxes have to be paid additionally only  if the buyer is Sri lankan.

Foreign employees of certain foreign agencies (not attached to an embassy) like UN international staff, international staff of agencies like JICA, USAid and high ranking posts like country directors of INGOs get duty free concessions to import 1 duty free car during their posting in the country. Once their posting is finished it can either be transferred to another international holding a position that has duty free entitlements for a car or discarded or taken away. If a local is to buy one of these cars then applicable duties have to be paid by the local.

[bhaSen]

On ‎3‎/‎18‎/‎2018 at 3:10 PM, Loungepuppy said:

Hello Community,

Are there import duty concessions for Sri Lankan businesses that earn foreign exchange. If yes, can you please point me to a reliable information source on the topic. Thanks so much!

Refer Section 100 in Department of Import and Export Control website regarding the blue permit required for import. (http://www.imexport.gov.lk/index.php/en/vehicles-others.html#issuance-of-license)

Refer Section F12/F13 in Sri Lanka Customs Website on the tax concessions for imports by Sri Lankans overseas (which is none btw). http://www.customs.gov.lk/declaration/mvu

Read this thread in autolanka where a guy did some comprehensive research back in 2013. But the tax structure has changed now making it impossible to import even a personally used car.

 

[Loungepuppy]

@bhaSen, thanks man! I did read through the resources you shared before I posted here, but I couldn't find any information on tax concessions available for persons generating foreign exchange through private businesses (ie. export businesses)