Sri Lanka: Sri Lanka Revises its Tariff Schedule on November 17, 2020

The Government of Sri Lanka on November 17, 2020, revised the country's tariff schedule effective November 18, 2020. The changes modify the Revenue Protection Act, No. 19 (1962). The average import duty drops by half from the previous level, however, a CESS levy on a wide range of imports (including a number of U.S.-origin agricultural commodities) is being introduced. The measure impacts the main U.S.-origin commodities (in terms of trade value) including soybean flour, chickpeas, fresh apples, fresh grapes, prepared foods, and prepared potatoes.

Sri Lanka: Sri Lanka Revises its Tariff Schedule on November 17, 2020