Sri Lanka Targets Transparent, Modern Tariff Regime by 2026

Sri Lanka will introduce a new national tariff policy by mid-2026, replacing what officials describe as a decades-old patchwork of protectionist and unpredictable import taxes. Trade Ministry Secretary K.A. Vimalenthirarajah, speaking at the Sri Lanka Economic Summit, said the reform will shift the country toward a simplified, transparent and globally aligned tariff framework aimed at reducing costs, improving competitiveness and enabling stronger export participation.

The new regime is built on four priorities: predictability, simplification, time-bound support for industries, and improved access to affordable inputs to join global value chains. Cabinet has already established two tariff committees to finalise the structure.

The overhaul is tied to Sri Lanka’s wider trade strategy, including reviews of all Free Trade Agreements and consideration of an invitation to join the ASEAN Free Trade Area. The Government also plans to accelerate WTO-aligned reforms and introduce the National Single Window to streamline Customs processes.

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