In response to a noticeable increase in revenue losses, Sri Lanka Customs is gearing up to implement stringent penalties for individuals engaged in smuggling activities involving over 100 grams of gold and substantial quantities of restricted items, including mobile phones, as communicated by an official spokesperson on Sunday.
A recent report from the Parliamentary Committee on Ways and Means underscored a significant loss of 1.4 billion rupees. This loss was attributed to the discretionary powers bestowed upon customs officers in determining fines for the smuggling of restricted goods into the country, according to customs media spokesperson Seevali Arukgoda.
The committee’s findings also shed light on a noteworthy surge in the smuggling of high-value items, such as gold and mobile phones, over the past three years, particularly following the implementation of import restrictions.
Arukgoda disclosed that effective from June 2023, individuals caught participating in the smuggling of restricted valuable items could face fines equivalent to three times the value of the goods or a penalty of 100,000 rupees.
As of October 31, customs had already successfully collected 760 billion rupees in revenue. There are optimistic expectations that the total customs revenue for the year will exceed 925 billion rupees, according to Arukgoda.
These measures are not only aimed at curbing smuggling but also at bolstering revenue collection for the country, aligning with the Sri Lankan government’s ambitious revenue target of 1,226 billion rupees for 2023. (1 U.S. dollar equals 328 Sri Lankan rupees)
