Press briefing of Cabinet Decision taken on 2024-04-08 (Subject to Confirmation at the next Meeting)

Submission of an Order under the Sri Lanka Export Development Act No. 40 of 1979 to Parliament for approval

- The Cabinet at its meeting held on 2023‑05‑29 has granted approval to resume the Sri Lanka's Tariff Liberalization Programme under the Sri Lanka - Singapore Free Trade Agreement. Taking into account the implementation of CESS Levy as at 2018‑05‑01, the said programme has been categorized into three categories as 'Category 0', 'Category 10' and 'Category X'. Accordingly, an Order under the provisions of the Sri Lanka Export Development Act No. 40 of 1979 has been published through the Gazette Extraordinary Notification dated 2024‑01‑04 to give effect to remove the first annual installment of 1/5th of CESS Levy applicable on 1,087 HS Codes categorized under the 'Category 10' and for the single point removal of the CESS Levy applicable on 300 HS Codes categorized under the Category of "0". As such, the proposal made by the Hon. President in his capacity as the Minister of Investment Promotion to submit the said Order to Parliament, for approval, was approved by the Cabinet.