Sri Lankan private bonded warehouses allowed to clear LCL cargo

ECONOMYNEXT- Sri Lanka is allowing privately-held warehouses to clear goods imported in less than a container load of cargo, the Finance Ministry said.

A statement said that Finance Minister Mangala Samraweera had signed the gazette effective from October 1.

This will allow private sector bonded warehouses to clear LCL cargo for export and re-export, the ministry said.

The license to establish these warehouses at a reasonable distance from the international port and airport can be obtained from the Finance Ministry for a 500,000 rupee fee, the statement said.

It also said that according to the 2018 budget, large scale pharmaceutical and dairy companies, and importers of garbage management equipment have been given permission to run bonded warehouses for such capital goods.

Tax relief has too been granted to these capital goods.
(COLOMBO, 23 Octber, 2018)

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