Customs Duty & Regulatory Scrutiny Heightened Over Export Licensing & Advance Payments

Ministry of Finance and Sri Lanka Customs regulatory oversight has intensified following strict enforcement of the June/July 2026 Import and Export Control Regulations. The updated framework places heightened compliance requirements on high-risk industrial raw material exports—including scrap metal—and enforces strict mandatory registration for commercial importers utilizing advance payment mechanisms.

Under these measures, commercial banks now act as direct regulatory gatekeepers, requiring detailed transaction reporting to prevent foreign exchange leakages and unverified export proceed repatriation. For logistics brokers, 3PL providers, and industrial clients, maintaining flawless documentation and HS-code accuracy is now mandatory to avoid immediate vessel-loading holds.

Source: https://conventuslaw.com/report/sri-lanka-import-payment-rules-new-2026-gazette-guide/