New import and export control regulations issued via gazette

New regulations aimed at strengthening the monitoring and oversight of outward remittances from Sri Lanka for import transactions came into effect today, June 19, 2026.

Minister of Finance, Planning and Economic Development Anura Kumara Dissanayake promulgated the "Imports and Exports (Control) Regulations No. of 2026" under the powers vested by the Imports and Exports (Control) Act, No. 1 of 1969. The notification, dated June 18, 2026, was published in Gazette Extraordinary No 2493/39.

The new rules amend the Special Import License and Payment Regulations No. 1 of 2011. Under the revised Regulation No. 4, all banks must assign a unique number to each transaction and immediately notify the Sri Lanka Customs Department of specific details. This information includes the valid Taxpayer Identification Number (TIN) and address of the importer, the address, account number, bank code, and branch code of the beneficiary, the currency type, amount, payment and delivery terms, remittance date, proforma invoice number, and a description of the goods.

Furthermore, a newly inserted Regulation No. 8(4) makes it mandatory for importers to register with the Sri Lanka Customs Department as eligible importers before making advance payments. Commercial banks are prohibited from executing advance payments for imports unless this registration is complete. The Controller General of Imports and Exports will issue operational instructions to the Director General of Customs, commercial banks, and other relevant authorities to implement these objectives.