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Vehicle prices up from Monday

22 November 2015 07:28 am - 24     - {{hitsCtrl.values.hits}}

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The unit rate for vehicles through the budget proposal and the new valuation system that introduced recently would increase the prices of vehicles by Rs. 200,000 up to Rs. 2.5 million, the Vehicle Importers Association of Lanka (VIAL) said today.

A new valuation system was introduced recently taking full option manufacturers price as the tax base.

Finance Minister Ravi Karunanayake said presenting the budget, to further strengthen this process of collecting the payable taxes 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.

VIAL Chairman Indika Sampath Merenchige said with those introductions, the tax on electric vehicles had also been increased from 5 % to 50 % and therefore duty would increase on electric vehicles such as ‘Leaf’ by around Rs. 2.5 million.

“The import tax on 1000cc vehicles has been increased from 50 % to 70 % and therefore vehicles such as ‘Wagon R’ would increase by around Rs 400,000 and Maruti prices would increase by Rs. 250,000, he said.

“The tax on hybrid vehicles has been increased to 10 per cent and thereafter Aqua vehicle would increase around Rs. 500,000 to 600,000 while Prius would increase by around Rs.700,000”, he said.

Mr. Merenchige said the tax rate on vans had been increased from 85% to 150% and price on vans would increase of by around Rs.2.5 million.

He said the new prices would come into effect on Monday (23).

Meanwhile, 2016 budget has reduced excise duty to 2.5 percent for the vehicles which are run entirely on Solar, Hydrogen or Helium.

A vehicle import fee to obtain a Vehicle Entitlement Certificate for each vehicle was also introduced and therefore Rs. 2,000 per motor cycle and three wheeler, Rs.15,000 for a motor car and Rs.10,000 per vehicle for all other vehicles would have to pay as fee.(DS)

 
 

Vehicle prices up from MondayRead more : http://www.dailymirror.lk/96385/vehicle-prices-up-from-monday

Posted by Daily Mirror on Sunday, 22 November 2015
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  Comments - 24

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  • Kumar Wednesday, 25 November 2015 07:07 PM

    The price of a toyota is not increased but car dealers have already increased for the vehicles which had been imported a month ago... Is this correct

    ANTON Sunday, 22 November 2015 01:15 PM

    HUTA !!!! BUYING A HYBRID HAS BECOME A DREAM........

    Mm Sunday, 22 November 2015 01:20 PM

    Haaahaaa, the conman man who voted illang kaawa

    Arun Sunday, 22 November 2015 01:22 PM

    So which car price reduce that available in srilanka ?

    ET Sunday, 22 November 2015 02:01 PM

    Bull talk. Taxes on electric, hydrogen run vehicles have been reduced to 2.5% from 10%, according to the budget speech. Also customs have done a further change in FOB valuation of vehicles after importers made representations. Your own sister newspaper Sumday times says, price of Toyota Aqua will fall by 500,000. Please correct this.

    MC. Razeek Tuesday, 24 November 2015 10:48 PM

    The budget 2016 is suitable for poor and rich people of srilanka.

    suhada123 Sunday, 22 November 2015 05:06 PM

    Ohoma yan...taama patangatta witarai. Yaahapalane....This is a nightmare budget for middle class people..those who voted fr this group of so called yahapalana nade will soon get to know their true faces...they made lots of complain when the previouse gvt increse the marrege registration fee..that u hav to do once in a life time ..now they increse veh emission fee fr 1600 to 5000...that u hav to do every year...

    Sara Monday, 23 November 2015 05:56 PM

    Avant Garde SAMOL HADALA, BITHTHARA APPAKALA, ADU SEENI PLAIN TEA BOMU.OKKOMA HARI YAI.

    Sonali Sunday, 22 November 2015 05:32 PM

    Thank the stars I ride a Honda scooter to work and use Nano taxis for important occasions.

    Nilmal Sunday, 22 November 2015 05:43 PM

    Vehicle prices increased from 23rd, has gas, sugar prices reduced

    Daya Sunday, 22 November 2015 06:04 PM

    Even Maruthi, middle man car prices gone up? Good government..

    Jagath Sunday, 22 November 2015 06:08 PM

    We waited till UNP government to come into power to buy a car. Dream shattered.

    poraa Sunday, 22 November 2015 06:38 PM

    we will keep UNP in power next time too......jaya wewa

    Ramesh Sunday, 22 November 2015 06:42 PM

    Yahaplana gov. please go home. This gov is already a failure.

    Minal Sunday, 22 November 2015 07:03 PM

    Budget speech said tax is 2.5% on solar cars NOT electric cars.

    Sapu Sunday, 22 November 2015 07:21 PM

    Prices of Electric cars have been reduced so buy them!

    Sim Sunday, 22 November 2015 07:39 PM

    After budget speech price will go up but price reductions will take a long time

    supun Sunday, 22 November 2015 07:42 PM

    How can 3 million Leaf increase by 2.5 million with a 50% tax?

    Mr. Smart Sunday, 22 November 2015 07:52 PM

    Yes! The price of vehicles should go up more as the roads cannot intake the amount of vehicles and the bloody 3 wheelers must be stopped for good.

    Asf65 Sunday, 22 November 2015 08:01 PM

    Couple of days ago the FOB prices were reduced. Based on this, the price of AQUA will reduce by around 500,000. However, due to the increase in tax the price of Aqua will increase in between 500,000 to 600,000. Simply no effect

    Purushoththaman Sunday, 22 November 2015 08:33 PM

    Glad I bought an aqua about 5 months back.

    Don Sunday, 22 November 2015 08:43 PM

    Nobody manufactures solara, helium and hydrogen cars except for scientists. This is such a stupid budget.

    ammer@yahoo.com Sunday, 22 November 2015 09:09 PM

    Emission tests are carried out to minimize environmental pollution, but here in sri lanka emission test is a big business and cars such as hybrid less polluting and electric car zero emission, if gov. really think about environmental factors they should reduce taxes on hybrid and electric car. if not point less of taking about port city or other project environmental impact issues.

    Janaka Sunday, 22 November 2015 09:30 PM

    When the previous government increased everything we all kept quiet cz if we oppose a whit van comes to pivk us up, now we shout at the new government who has to pay the debt of the previous government. You people change like the weather.


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