capital and intermediate goods eligible for exemption ... · -equipment-accessories etc....
TRANSCRIPT
THE TIEP-IV SCHEME
CAPITAL AND INTERMEDIATE GOODS ELIGIBLE
FOR EXEMPTION
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-Spare parts.
WHO ARE PERMITTED TO OPERATE?
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The TIEP IV Scheme permits exemption of Fiscal
Levies at import of Capital and Intermediate Goods
used for the manufacture of products for export.
Capital goods directly Involved in production
process
-Machinery
-Equipment
-Accessories etc.
Intermediate Goods which are considered as
essential to the manufacturing process [excluding
raw material] :
-Appliances
-Devices
- S u p p o r t i n g e q u i p m e n t s u c h a s A i r
c o n d i t i o n e r s , c o m p u t e r s , e l e c t r i c i t y
generators etc.
-Other essential equipments.
-Transport equipment and handling equipment
which are used in the production process
exclusively in the factory premises or place of
production.
-Breeding stocks for agricultural projects.
Direct Exporters
Manufacturers who manufacture goods for exports
Indirect Exporters
Manufacturers who produce goods as inputs for
other industries manufacturing goods for export.
FACILITIES AVAILABLE
PROCEDURE FOR APPROVAL
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DOCUMENTS NEEDED FOR REGISTRATION
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?If registered under Business Names Statutes respective
provinces
o Certificate of Registration of an Individual
Business
o Certificate of Registration of a Firm
Duty and tax exemption granted under the scheme are:
100% exemption in the case of exporters who export
50% or more of their output and indirect exporters who
supply 50% or more of their output to direct exporters.
Suppliers of products to BOI enterprises who are
entitled for duty free import of such goods are
considered as deemed exports.
Direct exporters or indirect exporters should apply
to the Director General of Customs, in prescribed
form [TIEP IV] for approval.
Forms could be obtained from Export Facilitation
Unit of the Industries and Services Directorate of
the Customs Department.
Request letter
Duly completed prescribed form [TIEP- IV] in triplicate.
Project Report
Certificate of VAT registration.
If incorporated under the Companies Act No. 7 of 2007
o Certificate of Incorporation
o Change of Director/Secretary and Particulars of
Director/Secretary
o Articles of Association
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TYPES OF APPROVAL
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SECURITIES
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However, the Director General of Customs reserves
the right to call for a Bank Guarantee up to 100% as
s e c u r i t y l i m i t i n t h e c a s e o f a n y
default/unsatisfactory performance etc.
Other necessary approvals [Tea Board, Coconut
Development Board etc….] wherever applicable.
EDB Registration
I.D copies of two directors
General approval for a period of one year from the
date of approval.
Specific approval will be given when applications
are made for single importation.[each and every
time]
The security/bank guarantee equal to the full value
of the Customs Duty and VAT
TIEP holder should furnish a Personal/Corporate
Guarantee to the Customs as determined by the
DGC after one year of operation.
New TIEP holders who import for the first time
should furnish a 100% Bank Guarantee.
TIEP holder who has a good track record of less
than 03 years may furnish a 25% Bank Guarantee
and a 75% Personal Guarantee.
TIEP holder who has a good track record of more
than 05 years may apply 100% personal guarantee
or corporate guarantee.
* All guarantees are valid for a period of one year.
DISCHARGE OF GUARANTEES
Customs Economic Procedures are:
?Offered in GOOD FAITH,
?Implemented in TRUST,
?Relaxed for PRODUCTIVITY, and
?Aimed at PROGRESS.
Therefore full compliance with the relevant rules,
regulations and guidelines by the approved
operators are expected as such compliance is a
primary key for the facilitation of trade.
At the end o f one yea r f rom the da t e o f
commencement of the production, the TIEP holder
should submit a statement on production and exports /
supplies of such product to exporters, duly certified
by a recognized auditor in Form TIEP -V [In
Triplicate]
After discharge of the guarantee, the TIEP holder
should give a written undertaking to the Director
General of Customs that the items imported under this
scheme will not be sold, hired, leased, disposed or
used for any other purpose other than for which the
items were allowed importation, without the prior
approval of the Director General of the Customs.
to the Director General of Customs.
THE SCHEME FOR GRANTING EXEMPTION OF
FISCAL LEVIES ON CAPITAL AND INTERMEDIATE GOODS
T I E P I VTEMPORARY IMPORT FOR EXPORT
PROCESSING
SRI LANKA CUSTOMS
For assistance and more information
DIRECTOR OF CUSTOMS (Industries & Services)
Telephone: 094 112143434 (Ext 7170)
Fax: 094 112423257
DEPUTY DIRECTOR OF CUSTOMS (
)
Telephone: 094 112143434 (Ext 7173)
SUPERINTENDENT OF CUSTOMS (EFU)
Telephone: 094 112143434 (Ext 7114)
Email: [email protected]
Industries &
Services
Sri Lanka Customs invites all the Exporters/SMEs to
make maximum use of Customs Economic Procedures
devised for the promotion of exports creating a favorable
setting for achieving competitiveness by our economic
operators in the international trade.
Ex p o r t Fa c i l i t a t i o n U n i tI ndus t r i e s & S e rv i ce s D i r ec to r a t e
1s t F loo r, Cu s to ms H ous e ,
N o . 40 , M a in S t r ee t ,
Co lomb o 11 .
Aug
ust
2017