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The Gazette of the Democratic Socialist Republic of Sri Lanka
Regulations
Imports and Exports (Control) Regulation No. 01 of 2006
1. These regulations may be cited as the Imports and Exports (Control) Regulations No. 01 of 2006.
2. With effect from 01 August, 2006 all used motor vehicles failing under H.S. codes 87.02, 87.03, 87.04 and 87.05 being imported to Sri Lanka shall be subjected to a pre-shipment inspection and shall have a certificate of export inspection issued by the relevant authorized inspectors appointed by the Secretary to the Minister of Finance.
3. The said certificate of export inspection shall have annexed thereto:
a. A certified copy of the cancelled vehicle registration certificate which shall be laminated and bear an embossed hologram official seal.
b. A condition report with a complete description of the vehicle including a list of accessories.
8.1 Authorized inspectors shall mean the following:
(i) For imports from Japan-Japan Auto Appraisal Institute (log on to www.japanesecartrade.com )
(ii) For imports from all other countries-Bureau Veritas (log on to www.japanesecartrade.com)
(iii) Where in a country that Bureau Veritas is not available or for any other reason: From an inspection authority accepted by the Secretary to the Ministry of Finance.
8.2 Used motor vehicle for the purpose of this regulation shall mean;
4. The documents referred to in regulation 3(a) and 3(b) above and the cancelled original certificate of registration with an English Translation thereof shall from part of the documents hereinafter required under letters of credit.
5. The stamp of the local bank that opened the letters of credit and that of the corresponding bank in country of export shall be placed, on the original cancelled certificate of registration, its English translation, and the documents referred to in regulation 3(a) or a copy of it and 3(b).
6. Commercial banks shall only accept such documents dispatched directly by their corresponding banks and shall not stamp cancelled vehicle registration certificates, their English translations and certificates of export inspection if directly dispatched by the exporter, importer or any other person.
7. Verification of Authenticity
8. Interpretation:
A motor vehicle that has been registered in a country of origin/export.
Calculation of CIF Value:
FOB value as per + Freight as per + Insurance as per + Additional accessories as per = CIF value for the computation of duty & other levies
The customs value of a used motor vehicle of its headings 87.01, 87.02, 87.03, 87.04 and 87.11 shall be calculated.
All the customs duties and other levies are payable at the time of importation shall be calculated on the basis of Agent’s value or the invoice value which ever is higher.
Amendment in 2007
Sri Lanka government has decided not to allow the importation of reconditioned motor cars that have been used for more than two years. Earlier the government allowed the cars reconditioned after three and half years of use to be imported. The period of use for reconditioned vans will also be decreased from five years to three years. The new law will be in effect from 1st February. The secondhand car market rapidly responded to the government’s decision with price increases.
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