INWARD PROCESSING IN SRI LANKA

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Presentation transcript:

INWARD PROCESSING IN SRI LANKA 31 May 2016 For National Chamber of Commerce of Sri Lanka Thilak Arumapperuma Arachchi Superintendent of Customs Export Facilitation Unit Industries and Services Directorate Sri Lanka Customs

INWARD PROCESSING (IP) Embraces number of Customs Relief Procedures with Economic Impact provided for in legislation of Sri Lanka It permits the imports of materials as inputs in to Sri Lanka for processing and export of finished/semi finished goods without payment of fiscal levies The processing may include from simple repacking, sorting to complicated manufacturing by small scale to medium scale exporters

IP ADVANTAGES Reduced cost of production of the export products Re-export with value addition Increased competitiveness in the international market Exploit the country’s potential in international maritime network Enhanced trade flow between countries

IP - SCHEMES OFFERED BY CUSTOMS TIEP-I (Temporary Import for Export Processing-I) The Government Extraordinary Gazette No. 1053/11 of 11/11/1998 Raw materials, parts, consumables, packaging materils TIEP-IV (Temporary Import for Export Processing-IV) Section 22A of the Customs Ordinance Plant, machinery, equipment and parts etc to be used in the export processing To encourage expansion of production capacities and exports INFAC Apparel Industry Fabric, accessories, ancillaries, Machinery Entrepôt Import of goods for re-export to a third party

IP - FOR WHOM? Direct Exporters Indirect Exporters Who manufactures and exports Indirect Exporters Who manufactures and supply for others to further process and export Customs Manufacture-in-Bond operator TIEP operator BOI enterprise under Section 17 of BOI Act INFAC operator A Manufacturer in the Scheme is not entitled to operate under Customs Duty Rebate, Manufacture- in-Bond or any other such scheme in respect of an identical product

EXPORTER AUTHORISED UNDER IP IP - FACILITIES ENTERPRISES Permitted for duty exemption Finished Goods DEEMED EXPORT EXPORTER AUTHORISED UNDER IP Processing Assembly Manufacture Raw materials/Consumables /Packing materials Plant/Machinery/Parts DIRECT EXPORT Finished Goods Semi Finished Goods Packing materials INDIRECT EXPORT FINAL EXPORT EXPORTER AUTHORISED UNDER IP EXPORT ORIENTED BOI VENTURE

CUSTOMS PROCEDURES WITH ECONOMIC IMPACT Offered in GOOD FAITH Implemented in TRUST Relaxed for PRODUCTIVITY Aimed at PROGRESS

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