Overview of Entrept Trade Regulations in Sri Lanka

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Learn about Entrept Trade in Sri Lanka, including its definition, benefits, prohibitions, restrictions, and warehousing of goods. Discover how this trade scheme allows for the import and re-export of goods with value addition, without payment of customs duties, and explore the strategic advantages it offers within the maritime network. Gain insights into the regulations governing narcotics, arms, textiles, and more, as well as the facilities provided by public and private bonded warehouses for efficient trade operations.

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ENTREPT TRADE 31 May 2016 for National Chamber of Commerce Sri Lanka Thilak Arumapperuma Arachchi Superintendent of Customs Export Facilitation Unit Industries and Services Directorate Sri Lanka Customs

Entrept Entrep t An entrep t entrep t (French for "warehouse") or transshipment port is a port, city, or trading post where merchandise may be imported, stored or traded, usually to be exported again. These commercial cities spawned due the growth of long- distance trade. (Wikipedia)

Entrept Entrep t Trade Trade Import of goods and re-export to a third party with value addition without payment of Customs Duties An important aspect of Commercial Hub Ports

Entrept Entrep t Trade Trade Bonded warehouse T/S Cargo Simple value addition Labeling Re-packing Re-stuffing Re-Shipment

Benefits of the Scheme Benefits of the Scheme No import control license Re-Export of goods as imported with a value addition Meet buyers requirements by way of simple processing Re-packing Labeling Trade from one country to another without the goods physically landing in Sri Lanka Exploit the country s strategic location in the maritime network

Prohibitions and Restrictions Prohibitions and Restrictions Prohibited Narcotics Arms and ammunition Goods prohibited under international conventions Restricted Cloves re-export to countries under preferential trading agreements Textile and clothing re-export to USA, Canada, India, Austria, Italy, Belgium, Denmark, Finland, France, Germany, Greece, Ireland, Spain, Luxembourg, Sweden, Netherlands, Portugal, and UK.

Warehousing of goods Warehousing of goods Public Bonded Warehouses of SLPA (CFS3/CFS5) Private Bonded Warehouse (Section 69) Transfer from inward to outward ship/aircraft is allowed under Customs supervision without warehousing

Security and Liabilities Security and Liabilities Movement of goods within the Port No security is required No Customs supervision Movement of goods from Port to Bond Bank/Corporate Guarantee to cover liabilities Under Customs Supervision Movement of goods from Port to Port No security is required No warehousing of goods Under Customs Supervision

Terms Terms and Conditions and Conditions Import Exchange control regulations are applicable Actual country of origin shall be declared Re-Export Exchange control regulations are applicable Re-Export under DA not permitted Re-Export FOB > Import CIF Country of Origin Shall not be changed

Application for Approval Approval must be obtained case by case A letter of application to Director of Customs (Industries and Services) for approval Import and Export vessel Names Bill of lading number Description and quantity of goods Import commercial invoice number and the date Import value of the goods with terms of delivery (CIF) Destination of re-export Re-export value of the goods with terms of delivery and the gain Undertaking to re-export within the granted period or to pay Customs Duty and Levies and remove the goods for home use. The warehouse code 7301142/7301127 for CFS3/CFS5 is linked to the TIN of the applicant for a period of one month This facilitates the processing of CusDec for depositing goods at CFS3/CFS5

Import Import Process CusDec At Industries and Services Directorate - Office code CBBD1 Customs Procedure Code 7300-100 Warehouse Code 7301142/7301127 At Warehouse Keeping Unit (WHK) Updates the bonding register Endorsements on the CusDec Channel Selection (Selectivity) Appointment of officers for examiantion

Re Re- -Export Export Process CusDec At Industries and Services Directorate - Office code CBBD1 Customs Procedure Code 3273-100 Warehouse Code 7301127 At Warehouse Keeping Unit (WHK) Updates the bonding register Endorsements on the CusDec Channel Selection

Writing Writing- -off off Liabilities Liabilities Within one month from re-export Export bill of lading Export invoice with confirmation on inward remittance by the Bank At Warehouse Keeping Unit (WHK) Writing-off of liabilities in THINETH Endorsement on CusDec Cancellation Allowed

Extension of period Extension of period Letter of application for extension with reasons Re-Export vessel and date Re-Export value and gain

Sri Lanka - A Leading Commercial Hub in the World? It has the potential Join Hands Come Forward Make it a reality! I Thank You Thilak Arumapperuma Arachchi Superintendent of Customs