Sri Lanka imposes 15-pct tax on gold imports

Apr 19, 2018 (LBO) – Sri Lanka has imposed a 15 percent tax on gold to tackle possible smuggling to India, where it is more expensive, the finance ministry said.

The tax came into effect midnight on Tuesday.

Sri Lanka’s gold imports rose 72 percent to 15,750 kilograms in 2017 while in the first quarter of 2018, imports had reached around 8000 kilograms, the ministry said.

India has a 10 percent import duty.