Takeover of import/ export facilitation of BOI by Customs

THE Sri Lanka Customs is expected to take over the import and export facilitation process of the Board of Investment (BOI) firms from May 2026 onwards as part of a pilot project.

- 

An MOU has been entered into between the BOI and the Customs last week enabling the border control agency to undertake the facilitation processes under a pilot project for a period of about 3-6 months according to the Daily FT’s sister paper The Sunday Times.

Last June, the Government via its Letter of Intent to the IMF pledged to approve necessary legislation by end-October 2025 to mandate the Customs with clear and unfettered responsibility for the clearance, movement, and control of goods to and from the special economic zones. It is reported that Katunayake Free Trade Zone is to be used for this pilot project. The move appears to be part of the broader efforts to increase the state tax revenue as per the revenue-based fiscal consolidation framework mandated by the IME Revenue leakage from BOI firms in Sri Lanka primarily stem from extensive tax concessions, misuse of import/export facilities for local profiteering, anda lack of transparent monitoring.