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* Sri Lankan government allows private sector to maintain bonded warehouse for imported goods clearance
Mon, Oct 22, 2018, 08:18 pm SL Time, ColomboPage News Desk, Sri Lanka.

Oct 22, Colombo: The government has decided to grant permission to the private sector for operating warehouse facilities for the clearance of goods imported from less than a container or the LCL Cargo imported to Sri Lanka.

According to the powers vested in Minister of Finance and Mass Media under the Sri Lanka Customs Ordinance, the Minister of Finance and Mass Media Mangala Samaraweera recently signed the gazette notification for the Regulations enacted.

The new regulations which will be effective from the 1st of October allow not only the clearance of imported goods and the export activities but also the re-export through the bonded warehouse.

License from the Department of Customs can be obtained under the approval of the Minister of Finance in order to establish this warehouse at a reasonable distance easily accessed from the International Port and Airport. The annual license fee of Rs. 500,000 will be charged.

Meanwhile permission has been granted to run the bonded warehouses for large scale pharmaceuticals, dairy and the capital goods imported for the investment of garbage management, as per the budget - 2018. Tax relief has too been granted to these capital goods.

 

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