1. What is Import Duty?

Import duty is a tax levied by Sri Lankan customs on goods imported into the country. It is calculated as a percentage of the CIF (Cost, Insurance, and Freight) value of the goods.

2. How Does the Calculator Work?

The calculator uses the following formula:

Where:

• \( \text{CIF} \) — Cost, Insurance, and Freight value in USD
• \( \text{Duty Rate} \) — Sri Lankan customs duty rate percentage

Explanation: The calculation converts the percentage duty rate to a decimal and multiplies it by the CIF value to determine the duty amount.

3. Importance of Import Duty Calculation

Details: Accurate duty calculation helps importers estimate total costs, comply with customs regulations, and avoid unexpected expenses when importing goods into Sri Lanka.

4. Using the Calculator

Tips: Enter the CIF value in USD and the applicable duty rate as a percentage. Both values must be positive numbers (duty rate between 0-100%).

5. Frequently Asked Questions (FAQ)

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

Q2: Where can I find duty rates for specific products?
A: Sri Lanka Customs provides a tariff database with duty rates for different product categories (HS codes).

Q3: Are there other charges besides import duty?
A: Yes, imports may also be subject to VAT, PAL (Ports and Airport Levy), and other taxes or fees.

Q4: How often do duty rates change?
A: Duty rates may change with annual budgets or special regulations. Always check current rates before importing.

Q5: Can I get duty exemptions?
A: Some goods may qualify for duty exemptions or reductions under trade agreements or special schemes.