The cess levy imposed on imported cement has been reduced by Rs. 01 per kilogram, the Finance Ministry said.

This levy reduction is in effect from 6 September.

The levy revision has been made by virtue of the powers vested in Ranil Wickremesinghe as the Minister of Investment Promotion under Section 14 of the Sri Lanka Export Development Act, No. 40 of 1979, with the concurrence of the Minister of Finance, Economic Stabilisation and National Policies.

According to the Global Trade Alert, on 3 June 2020, the Sri Lankan Minister of Industrial Export and Investment Promotion through Extraordinary Gazette No. 2178/21 amended the cess on imports of the following goods: The cess on white cement has been amended from 8% to Rs. 3 per kg (~$ 0.017) (HS 2523.21); the cess on water-proof cement, boiler cement and similar composition has been amended from 8% to Rs. 3 per kg (HS 2523.29); the cess on other Portland cement imported in packing of 50 kg and below has been amended from 14% to Rs. 5 per kg (~$ 0.03) (HS 2523.29); and the cess on other Portland cement imported in packing of over 50 kg or in bulk has been amended from 8% to Rs. 3 per kg. (HS 2523.29).

The cess on the above goods has been reduced from 1 July 2020.

Cess is levied on the total of an amount equal to the value of the products for customs duty purposes at the time of import and an amount equal to 10% of such value, as per the Sri Lanka Export Development Act.