1. What is Sri Lanka Customs Tax?

Sri Lanka Customs Tax is calculated based on the CIF (Cost, Insurance, and Freight) value of imported goods, plus applicable duty and tax rates. It's essential for importers to calculate these costs accurately for budgeting and compliance purposes.

2. How Does the Calculator Work?

The calculator uses the Sri Lanka Customs Tax formula:

Where:

• \( CIF \) — Cost, Insurance, and Freight value of the goods
• \( Duty Rate \) — Percentage duty rate applied to CIF value
• \( Tax Rate \) — Percentage tax rate applied to CIF + Duty value

Explanation: The calculation first applies the duty rate to the CIF value, then applies the tax rate to the sum of CIF and the calculated duty.

3. Importance of Customs Tax Calculation

Details: Accurate customs tax calculation helps importers budget for total costs, avoid unexpected charges, and ensure compliance with Sri Lankan import regulations.

4. Using the Calculator

Tips: Enter CIF value in your currency, duty rate as a percentage (e.g., 15 for 15%), and tax rate as a percentage. All values must be valid positive numbers.

5. Frequently Asked Questions (FAQ)

Q1: What is CIF value?
A: CIF stands for Cost, Insurance, and Freight - the total value of goods including cost, insurance, and shipping to Sri Lanka.

Q2: How are duty rates determined?
A: Duty rates vary by product category and are set by Sri Lankan customs regulations. Check the latest customs tariff for specific rates.

Q3: What taxes are included in this calculation?
A: This typically includes VAT or other applicable taxes on imported goods in Sri Lanka.

Q4: Are there additional fees not included?
A: Yes, there may be additional fees like port charges, handling fees, or special taxes not included in this basic calculation.

Q5: How often do rates change?
A: Customs duty and tax rates can change with government policy. Always verify current rates before final calculations.