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Sri Lanka slaps Rs300 import tax on moulded and beaded bamboo

ECONOMYNEXT – Sri Lanka has slapped 300 rupee per kilogram tax on moulded bamboo used in construction, according a government gazette notice.

Wood moulding were used for flooring were earlier tax free and only charged the port and airport levy.

Imports from countries under free trade agreements would remain under PAL.

Sri Lanka has raised import duties on a number of items and banned many imports after money printing in March and April weakened the exchange rate.

Private credit was negative until August. Some imports are allowed under suppliers’ credit which will have to be paid. (Colombo/Oct03/2020)