Sri Lanka, Jan. 19 -- A revised method for calculating the Social Security Contribution Levy (SSCL) and Value Added Tax (VAT) on gem imports has been introduced, offering significantly greater relief to gem importers, National Gem and Jewellery Authority (NGJA) Chairman and CEO Dr. S.B. Chaminda said.

Speaking at a media briefing today, Dr. Chaminda explained that following the introduction of SSCL and VAT on gem imports from January 1, 2024, gem imports sharply declined during 2024 and 2025 compared to 2023, negatively impacting gem exports as well.

"From January 2024, VAT was calculated based on the value of the gems in the imported parcel, with 18% VAT and 2.5% SSCL applied," he said. However, this method imposed a heavy tax burden o...