Sri Lanka Association of Air Express Companies | SLAAEC

SRI LANKA ASSOCIATION OF AIR EXPRESS COMPANIES

Time in Sri Lanka

The Sri Lanka Association of Air Express Companies (SLAAEC) consists of all the leading Air Express Companies operating in Sri Lanka and is the sole voice for the industry.

The SLAAEC represents its members in all matters pertaining to the development and improvement of the industry in order to provide a superior service to its customers in Sri Lanka and the rest of the world.

FUEL SURCHARGE

EXCHANGE RATES

IMPORTANT INFORMATION

Global fuel prices have been fluctuating for the past few years. As such, all members of SLAAEC have introduced a fuel surcharge to defer part of the increased transportation costs. Most companies use the Rotterdam ARA Jet Fuel Spot Price to calculate a fuel surcharge and for easy reference, the Rotterdam ARA Jet Fuel Spot Price will be available both as data on this page as well as a link to the Department of Energy site. More information on this is available here.

In international transportation, cost inputs are based on cross border transactions in multiple currencies. All express companies therefore bill their customers in a foreign currency and convert based on the exchange rate at the time of billing. The standard currency used is the US Dollar, but there are exceptions where other currencies may be used.
Current rates applicable are as follows
From 15th January 2010,
1 USD=Rs.115.65

Value Added Tax
A Zero rating is applied to the Air express industry for door to door services. However, when a formal clearance for an individual consignment takes place, express companies are liable to pay VAT on the additional clearance charges.In such cases, the VAT payable is 12%.

Nation Building Tax
Express Exports are exempt from this tax. However, express import services billed in Sri Lanka and customs clearance charges for detained consignments are liable to pay NBT. The current rate for NBT is 3%.