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Sri Lanka increases taxes for cars over 1000cc

| Car News, New Laws, Sri Lanka, Vehicle Tax | May 27, 2016

Sri Lanka increases taxes for cars over 1000cc

The Vehicle Importers Association of Sri Lanka said that the Unit Rate Tax for vehicles with an engine capacity more than 1000 cc has increased with effect from midnight.

President of Vehicle Importers Association of Sri Lanka Indika Sampath Merenchige said that from midnight, a minimum Unit Rate Tax was introduced for vehicles, while the Manufacturing Tax has been subject to amendments. He stated that as a result the prices of all vehicles starting with the 1000 cc engine capacity, have increased.

He added that the tax alone on a three wheeler is close to Rs. 400,000, tax on a Toyota Prius which was Rs. 3.3 Million, had increased to 7.2 million and the Tax on XL vehicles had increased from four million to 8 million.

The tax on a Maruti Alto which was Rs. 800 000, will increase to 1.2 million.

However, he said that the price of vans and trucks will not change. As no tax has been introduced for those classes of vehicles, the old structure will remain. Therefore, a limited number of vehicles with an engine capacity of less than 1000 cc needs to be imported to the country in the future.

Check the Government Notification on 26th May 2016

(Source: NewsFirst‎.lk)