A Gazette Extraordinary notification has been issued under the Imports and Exports (Control) Act, No. 1 of 1969, introducing new regulations to strengthen monitoring of outward remittances linked to import transactions.
Signed by President Anura Kumara Dissanayake on June 18, the Imports and Exports (Control) Regulations No. 06 of 2026 amended earlier provisions and imposed stricter requirements on banks and importers.
Under the new rules, banks must assign a unique number to each transaction and immediately notify the Sri Lanka Customs Department with detailed information, including the importer’s Taxpayer Identification Number, addresses of both remitter and beneficiary, account details, bank and branch codes, currency and amount, payment and delivery terms, date of remittance, proforma invoice number, and description of goods.
The regulations also make it mandatory for importers to register with Sri Lanka Customs before effecting advance payments.
Commercial banks are prohibited from processing such payments unless the importer is duly registered.
To ensure smooth implementation, the Controller General of Imports and Exports will issue operational instructions to Customs, banks, and other relevant authorities.
The new regulations come into force with effect from today, June 19, 2026, marking a significant tightening of oversight in Sri Lanka’s import payment system. (Newswire)
