1. What is Import Duty in Sri Lanka?

Import duty is a tax levied by the Sri Lankan government on goods imported into the country. It is calculated as a percentage of the CIF (Cost, Insurance, and Freight) value of the goods.

2. How Does the Calculator Work?

The calculator uses the import duty formula:

Where:

• \( CIF \) — Cost, Insurance, and Freight value of imported goods
• \( Duty Rate \) — Percentage duty rate applicable to the goods

Explanation: The calculation is straightforward - multiply the CIF value by the duty rate percentage (converted to decimal).

3. Importance of Import Duty Calculation

Details: Accurate import duty calculation helps businesses and individuals estimate total costs of imported goods, plan budgets, and comply with Sri Lankan customs regulations.

4. Using the Calculator

Tips: Enter the CIF value in LKR (Sri Lankan Rupees) and the applicable duty rate percentage. Both values must be positive numbers (duty rate between 0-100%).

5. Frequently Asked Questions (FAQ)

Q1: What is CIF value?
A: CIF stands for Cost, Insurance, and Freight - it includes the product cost, insurance charges, and all transportation costs to bring the goods to Sri Lanka.

Q2: How do I find the correct duty rate?
A: Duty rates vary by product category. Check Sri Lanka Customs tariff schedules or consult with a customs broker for accurate rates.

Q3: Are there other charges besides import duty?
A: Yes, imports may also be subject to VAT (12%), Port and Airport Development Levy (PAL), and other customs fees.

Q4: Can I pay import duty in foreign currency?
A: No, all customs duties and taxes must be paid in Sri Lankan Rupees (LKR).

Q5: Are there duty exemptions?
A: Some goods may qualify for duty exemptions under trade agreements or special programs. Check with Sri Lanka Customs for details.