Sri Lanka Imposes 50% Surcharge on Car Imports to Protect Currency From Further Slide
The temporary levy is meant to delay vehicle purchases for three months and protect foreign reserves as the rupee weakens, officials said.
- On Saturday, President Anura Kumara Dissanayake imposed a 50 per cent surcharge on most imported vehicles in Colombo for three months, excluding motorbikes and three-wheelers, to counter currency depreciation.
- Sri Lanka's rupee has depreciated 4.5 per cent against the USD so far in 2026 amid regional conflicts. Central Bank Governor Nandalal Weerasinghe warned last week the currency will continue sliding unless energy imports are curtailed.
- Calling the measure "temporary," Junior Finance Minister Anil Jayantha Fernando said the move aims to delay vehicle imports by three months to preserve foreign currency reserves amid pressure.
- The island's foreign reserves fell to $6.76 billion by the end of April, mainly due to high energy costs, while Sri Lanka remains under a $2.9 billion International Monetary Fund bailout programme.
- Regional pressures, primarily the war in West Asia and Iran, have caused fuel import costs to surge; Most Asian currencies have come under pressure amid rising oil prices and geopolitical tensions.
15 Articles
15 Articles
Sri Lanka imposes 50% surcharge on car imports to protect currency from further slide
The rupee has seen over 3% depreciation against the dollar by mid this month due to prevailing external pressures — primarily the Iran war — which has led to a massive surge in fuel import bill
Sri Lanka Imposes 50 pc Surcharge On Car Imports To Protect Currency From Further Slide
President Anura Kumara Dissanayake, who is also the finance minister, in a notification on Saturday said \"by this order levy on imported goods specified in the schedule here to a surcharge at the rate of 50 per cent on applicable customs duty effect from May 16 for a period of three months\"
Govt imposes 50% surcharge on imported vehicles for three months
The Ministry of Finance, Planning and Economic Development of Sri Lanka has officially announced the implementation of a temporary 50% surcharge on applicable Customs Import Duty for specified imported goods. MORE..
Sri Lanka imposes 50% surcharge on motor vehicle imports – The Indian Awaaz
Last Updated on May 16, 2026 11:26 pm by INDIAN AWAAZ AMN/ WEB DESK Sri Lanka has imposed a temporary 50 per cent surcharge on Customs Import Duty for a wide range of imported motor vehicles to protect foreign exchange reserves and ease pressure on the country’s external sector. According to the Finance Ministry, the surcharge came into effect today for a period of three months and applies to both general and preferential import duty categories.…
Sri Lanka Imposes 50% Temporary Surcharge on Vehicle Import Duty for Three Months
COLOMBO (News 1st); A media briefing was held this afternoon to clarify facts regarding the newly imposed 50% surcharge on customs import duties for i - Get the latest breaking news and top stories from Sri Lanka, the latest political news, sports news, weather updates, exam results, business news, entertainment news, world news and much more from News 1st, Sri Lanka's leading news network.
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