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Private sector gets green light to maintain Inland Clearance Depots

Sri Lanka government has given permission for the private sector to maintain Inland Clearance Depots for cargo classified as Less Than Container Loads or LCL, Finance Ministry announced.

 Finance and Media Minister Mangala Samaraweera has signed the relevant gazette notification promulgating necessary regulations allowing private firms to maintain such bonded where houses with retrospective effect from the 01st of October 2018. 

Accordingly, the Inland Clearance Depots will handle the import, export, and transshipment or LCL Cargo with effect from the 1st of October.   The aim is to facilitate increasing international trade flow and reduce congestion at ports and air ports. 

The relevant licenses could be obtained for Sri Lanka Customs with the approval from the Minister of Finance to set up Inland Clearance Depots to handle the import, export and transshipments including the Multi Country Consolidation.   

A LKR 500,000 annual license fee for the maintenance of Inland Clearance Depots will also be levied, the Finance Ministry said. 

Permission has also been granted to private firms in maintaining LCL Inland Clearance Depots on capital imports of capital goods to manufacture medicinal drugs, dairy industry, and disposal of garbage. 

The media release also noted that taxes will not be imposed on capital goods.

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