Most vehicles are priced in Japanese yen, US dollars or pounds, but Sri Lankan import tax is worked out in rupees. The first step of every calculation is to convert the CIF value into rupees, so the exchange rate you use changes every charge that follows.
Which rate the calculator uses
When you choose a currency, the calculator uses, in this order:
- Your own rate, if you tick the option to enter one.
- A live market rate, when one is available. The result shows its source and its date.
- A saved fallback rate if the live rate cannot be reached. The result says so clearly, so you never mistake it for a live rate.
Customs may use a different rate
Sri Lanka Customs converts the value with its own published rate, which it updates on a schedule and which can differ from the live market rate. So the rupee amount Customs works from may differ a little from the calculator's default. If you know the rate Customs will use for your shipment, enter it as your own rate to bring the estimate closer.
Enter rupees per one unit
The rate is the number of rupees for one unit of the currency. If a source quotes rupees for 100 yen, divide it by 100 first. A rate that is 100 times too large or too small is the most common reason for an estimate that looks wrong, so check that the converted CIF value in rupees makes sense.
What moves with the rate
The charges that are a percentage of the CIF value move with the exchange rate: the customs duty, the surcharge, the luxury tax, and the VAT and SSCL that are charged on a value built from it. The excise duty on a petrol, diesel or hybrid car depends on engine capacity and does not change with the exchange rate, so the total tax moves by less than the exchange rate does. See how the tax is calculated.
Practical advice
- Estimate with a rate a little less favourable than today's, to leave a margin.
- Recalculate close to the date you will clear the vehicle.
- Keep the receipts and bank advice that show the rate you actually paid at.
Try it in the calculator: choose the currency, look at the rate it shows, and enter your own if you know a better one.