National Chamber workshop today | Daily News


National Chamber workshop today

The National Chamber of Commerce of Sri Lanka in collaboration with Sri Lanka Customs will conduct a workshop on “Inward Processing for Temporary Importation for Export Processing ( TIEP) “ on May 31, 2016 from 3.00 to 5.00 p.m at the Chamber Auditorium.

The TIEP Scheme is where the exporters can be relieved from the payment of Import duties and taxes, on the basis that imported goods are intended for Manufacturing, Processing or Assembling in subsequent exports.

The Purpose of TIEP-I will Facilitate Exporter and Manufacturers to produce at lower cost and compete in the global context and encourage small and medium level businesses to use these facilities to maximize productivity.

The Inputs permitted by TIEP-I are Raw Materials, Components and parts which will be incorporated in export products, Parts for assembly of the product to be exported, Raw Material for producing pack materials.

The Resource Persons will be from Sri Lanka Customs, M Paskaran, Director of Customs, Thilak A Arachchi, Superintendent of Customs, Mr Rohan Jayathileke, Acting Director (Sector Development) Ministry of Industries and Commerce. Two Senior Commissioners from the Dept of Inland Revenue will contribute on the VAT applicable/exempted in this process at the Panel Discussion, where the participants will get the opportunity to find out more information on this scheme.

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