Tax on vehicles will not be changed- LVIA

13 December 2015 06:58 am - 9 - {{hitsCtrl.values.hits}}

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Finance Minister Ravi Karunanayake assured that taxes imposed on vehicles by the 2016 budget will not be revised, Lanka Vehicle Importers' Association (LVIA) said today.

Chairman of the Association Indika Sampath Merenchige said the Association had discussed the matter with the Ministry yesterday.

Minister Karunanayake presenting the budget said that the unit rate of excise duty for the vehicles on the basis of cubic centimeters and duties on the percentage basis on certain vehicles would be revised.

The Association earlier said with the proposal would increase prices between Rs. 200,000 to Rs. 2.5 million.

“We wanted several changes but we did not want to challenge the government’s decision. We also discussed issues with regard to the new valuation system and the minister assured us that the system would not be revised,” he said.

He said the finance minister assured the tax imposed would be implemented as proposed for a 18 months period atleast as it granted the government a much needed income but would decreased thereafter.

“During the meeting, the minister said the decision to increase taxes was to ease the large amount of currency to foreign countries when importing vehicles,” he said.

Meanwhile, the Association said motorists could purchase vehicles that were imported before the decision was made at a slightly increased rate. “Vehicles brought into the country after the tax increase would be available next month. Vehicles that were imported earlier could be purchased at 10 to 15 percent price hike,” Mr. Merenchige said. (Darshana Sanjeewa)

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Comments - 9

Bippity Boppity Boo Sunday, 13 December 2015 02:37 PM

As a protest the public should refrain from buying unregistered and new cars .Now we can see a connection with the car dealers and wheeler-dealers .

Kris Sunday, 13 December 2015 03:34 PM

If they are selling with 10% hike for the vehicles already imported, why have they increased by 65%.

Sapu Sunday, 13 December 2015 06:24 PM

Time go searching executive grade govt workers to buy their permits :D

Be Fair Sunday, 13 December 2015 06:46 PM

Clearly demonstrates the greedy and unethical practice of the LVIA. Why increase the price of the vehicles that were imported before the budget. Hats off to RK for not entertaining these fraudsters

Nims Monday, 14 December 2015 06:20 AM

Marriage proposalI am looking for a female employee who is entitled for a vehicle permit to marry.

ANTON Monday, 14 December 2015 08:31 AM

MY VOTE ON NEXT ELECTION WILL ALSO NOT BE CHANGED.

ravee Monday, 14 December 2015 09:08 AM

This increase has happened after discussion between LVIA and Finance Minister... This is a game to them.. after one and half years or two years time, this is coming down... will stay calm till that...

Premalal Monday, 14 December 2015 09:29 AM

Building a house and buying a vehicle is a primary ambition of any young aspiring man or woman. These are the fruits of hard work. There is no purpose in living in a country which discriminates the productive sector in favour of the unproductive. Especially the politicians. That is the reason for the cream of this country clamouring to get out. We will never develop this country by depriving the hard working sector. .

mnsmart Monday, 14 December 2015 02:49 PM

Increasing the prices of electric vehicles by a large margin is not acceptable. earlier the tax was apr 200,000

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Tax on vehicles will not be changed- LVIA

Comments - 9

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