Sri Lanka to phase out CESS, Port, and Airport Levy within 3-5 years

Sri Lanka is planning to phase out non-tariff import taxes including, CESS, Port and Airport Levy within a period of 3 to 5 years as the country looks to bolster its trade relations with Asian nations and beyond.
“As a primary step to improving Sri Lanka’s deeper connectivity with foreign trade and global markets, we are taking steps to eliminate non-tariff import taxes, including import CESS, Port, and Airport Levy. Easing of these taxes will be phased out through 3 to 5 years,” Preident Ranil Wickremesinghe said delivering the 2024 budget speech.

Wickremesinghe outlined that Sri Lanka is working towards establishing free trade agreements with Thailand, Indonesia, Bangladesh and China, while taking steps to expand Indo-Lanka FTA to a comprehensive economic and technological cooperation agreement.
Sri Lanka is also expecting to gain the membership of Regional Comprehensive Economic Partnership (RCEP), an FTA among ten member states of the Association of Southeast Asian Nations (ASEAN).