The Imports and Exports (Control) Regulations No. 06 of 2026, signed by President Anura Kumara Dissanayake on June 18, amend existing rules by placing additional responsibilities on banks and importers to improve transparency in import payments.
Under the new framework, banks must assign a unique reference number to each import-related remittance and immediately submit detailed transaction information to Sri Lanka Customs. The required details include the importer’s Taxpayer Identification Number (TIN), addresses of the parties involved, account information, bank and branch details, transaction currency and value, payment and delivery terms, remittance date, proforma invoice number, and details of imported goods.
The regulations also require importers to register with Sri Lanka Customs before making advance payments for imports. Banks are prohibited from processing such payments unless the importer has completed the mandatory registration process.
The Controller General of Imports and Exports will issue further operational guidelines to ensure the effective implementation of the new regulations among Customs authorities, banks, and other relevant institutions.
Meanwhile, the Deputy Minister of Finance, Planning and Economic Development, Dr. Anil Jayantha Fernando said that the primary objective of the newly issued gazette notification is to systematically monitor import operations rather than impose restrictions on them. According to the Deputy Minister, the regulation introduced by the Department of Import and Export Control is designed to closely analyze payments made for imports. The strategic goal is to prevent the unnecessary and illegal outflow of vital foreign exchange from the country, rather than limiting standard import and export activities.
