Japanese vehicle prices go up with Yen

29 June 2016 11:39 pm - 10     - {{hitsCtrl.values.hits}}


Imported Japanese made vehicle prices would be increased again due to the currency rate increment of the Japanese Yen, Chairman of Sri Lanka Vehicle Importers' Association Mahinda Sarathchandra said.

“The exchange rate of the Japanese Yen had increased by 1.45 compared to the Sri Lankan Rupee. As a result the price of vehicles imported from Japan would be increased in a price range of Rs. 300,000 to 400,000,” he said.

He said prices of motor cars, jeeps and vans would be increased.

Meanwhile, the Finance Minister in his Gazette notification issued on June 14 said:

“Regulation to prescribe a method for determination of Customs Value of vehicles imported and classifiable within the HS heading of 87.02, 87.03, 87.04, 87.05 and 87.11 of the Harmonized Commodity Description and Coding System.

“All Customs duty and other duties and levies payable at the time of importation of motor vehicles shall be calculated on the basis of such Customs Values until further notice.

“The Customs Value of a motor vehicle not coming under brand new motor vehicle shall be the invoice that should not be below 85 percent of the transaction value (Excluding applicable local taxes) of a similar or identical brand new vehicle, at the country of export, of such vehicle,” the Gazette notification said. (Chaturanga Pradeep)

  Comments - 10

  • Madlin Wednesday, 29 June 2016 09:07 PM

    Good we have enough vehicles in the country. via DM Android App

    Dee Wednesday, 29 June 2016 11:17 PM

    Now go and protest against the 15%(actual 4%) VAT again.

    Silva Thursday, 30 June 2016 12:17 AM

    Now every one can buy a push cycle

    Fiyaz Ismath Thursday, 30 June 2016 02:01 AM

    Very interesting

    kk Thursday, 30 June 2016 04:43 AM

    what to do via DM Android App

    Anja Thursday, 30 June 2016 07:08 AM

    Unsuitable ppl drive the vehicle very good via DM Android App

    ANTON Thursday, 30 June 2016 07:18 AM


    Kolla Friday, 01 July 2016 05:06 AM

    Which God your referring to Lol

    kk Thursday, 30 June 2016 03:38 PM

    Dear God! When will my Rupee goes up! via DM Android App

    Nimal Friday, 01 July 2016 07:30 AM

    This country is not a vehicle manufacturing country. Therefore, we should not bother about so called "Motor Vehicle Industry". Tax on motor vehicles are must except for the vehicles for industry or transportation. Public Transport must be encourage.

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