By: Isuru Parakrama
March 20, Colombo (LNW): The government has introduced new amendments to the Imports and Exports (Control) Regulations under the authority of the Imports and Exports Control Act, No. 1 of 1969.
The amendments, officially promulgated by President Anura Kumara Dissanayake in his capacity as the Minister of Finance, Planning and Economic Development, were published in the Extraordinary Gazette No. 2488/07 dated March 19, 2025.
These revised regulations modify specific provisions of the Imports and Exports (Control) Regulations No. 02 of 2013, particularly affecting the importation of motor vehicles. One of the key changes requires that the original cancelled certificate of registration, along with its English translation and related documents, must bear the stamp of both the local bank that issued the letter of credit and the corresponding bank in the country of export.
However, in cases where an export inspection certificate and a condition report detailing the vehicle’s specifications are received, the requirement for the foreign bank’s stamp is waived, allowing licensed banks to release the documents.
Further, the amendments establish additional verification measures to ensure the authenticity of export inspection certificates. The documents must be dispatched directly by the corresponding bank, and their legitimacy must be confirmed online through the designated inspection agency.
An official endorsement indicating that the authenticity has been verified is now mandatory.
The regulations also introduce specific provisions for verifying the authenticity of motor vehicle import documents. Sri Lanka Customs is tasked with ensuring that these documents, including those referred to in prior regulations, are scrutinised before clearance.
Additionally, for vehicle imports from all countries, Bureau Veritas has been designated as the responsible verification agency.
To facilitate the implementation of these regulations, the Controller General of Imports and Exports will issue operational instructions to relevant authorities, including the Director General of Customs and licensed banks.
The revised regulations come into force on March 19, 2025 and apply to motor vehicles imported under the Imports and Exports (Control) Regulations No. 02 of 2025, regardless of the date of issuance of the export inspection certificate.
