Sri Lanka Imposes Stricter Controls on Vehicle Imports

COLOMBO (News 1st); An extraordinary gazette notification has been issued, mandating that imported vehicles must be registered with the Department of Motor Traffic in the buyer's name within 90 days. This regulation was introduced under the Import and Export Control Act of 1969.

The gazette, signed by President Anura Kumara Dissanayake in his capacity as the Minister of Finance, Planning, and Economic Development, was released yesterday evening.

It outlines that vehicles imported under Letters of Credit issued between December 18, 2024, and January 27, 2025, can be released by the Director General of Customs.

Additionally, the gazette states that vehicle imports will be permitted from December 18, 2024, to July 31, 2025. 

Importers or buyers must present relevant documents, including the Taxpayer Identification Number (TIN), for vehicle registration.

The relaxation of import restrictions applies only to a limited number of vehicles under specific regulations. Individuals, other than registered vehicle importers, are allowed to import only one vehicle per year.

If a vehicle importer exceeds the approved import quantity by 25% within six months up to December 2025, they will face a minimum three-year ban on vehicle imports.

Vehicles imported in violation of these regulations must be re-exported at the importer's expense within 90 days. These regulations are effective immediately as per the gazette notification.