Sri Lanka has endorsed the implementation of an updated National Tariff Policy following a thorough review aimed at enhancing compliance, improving clarity, and aligning the framework with the current economic and fiscal landscape.
The National Tariff Policy was initially introduced to create a transparent, predictable, and coherent tax system designed to support trade, investment, and fiscal objectives. During a Cabinet meeting on November 3, 2025, approval was granted to review the policy and introduce necessary amendments to address challenges encountered during its implementation and to ensure alignment with relevant tax laws.
Following this decision, the National Tariff Policy Committee conducted a detailed assessment of the policy provisions, identifying areas that were not fully aligned with recent economic, fiscal, and trade-related data, as well as existing legal requirements.
The review also took into account observations made by the Committee on Public Finance (COPF), particularly in regard to the need to simplify the policy and ensure compliance with statutory provisions.
Based on the Committee’s recommendations, the Cabinet of Ministers approved a resolution presented by the President of Sri Lanka, in his capacity as Minister of Finance, Planning, and Economic Development, to proceed with implementing the revised National Tariff Policy.
The updated framework is expected to enhance policy coherence while supporting Sri Lanka’s broader trade and fiscal management objectives.
