In Sri Lanka, there are two types of imports entertained on Duty Free basis, namely;
a) Direct Imports
b) Transfer of TIEP goods
Direct-import refers to a type of business importation involving a major retailer (eg. Wal-Mart) and an overseas manufacturer. A retailer typically purchases products designed by local companies that can be manufactured overseas.
In a direct-import program, the retailer bypasses the local supplier (colloquial middle-man) and buys the final product directly from the manufacturer, possibly saving in added costs. This type of business is fairly recent and follows the trends of the global economy. (Source : Sri Lanka Customs Website.)
b) Temporary Importation for Export Processing Scheme (TIEP)
Temporary Importation for Export Processing (TIEP) Scheme allows manufacturers who manufacture
goods for export or indirect export to import inputs without payment of Fiscal Levies.
By relieving manufacturers cum exporters from domestic taxes it is expected to enhance the
competitiveness of export production and encourage expansion of production capacities and exports.
There are two main divisions in TIEP scheme, i.e. TIEP-1 and TIEP-4. The importation of inputs such
as raw-materials, components, parts and packaging materials comes under TIEP-1 and importation of
capital goods, appliances and spare parts comes under TIEP-4. (Source : Sri Lanka Customs Website.)
CGI Lanka can provide the projects related activies for the investors who looking for oppotunity in exporting finished product under Sri Lanka Custom TIEP
Free Trade Agreement with Sri Lanka