Vehicle price to double due to luxury tax: Vehicle importers

• Rs. 3.5 mn Vehicle will cost Rs.6.7 mn. from November 1

By Jayantha Samarakoon  

The prices of vehicles presently valued around Rs. 3.5 million will be doubled effective from November 1 because of the luxury tax imposed, Sri Lanka Motor Vehicles importers’ Association said. After imposing the luxury tax for a vehicle with an engine capacity of 1500cc will cost Rs.6.70 million. Association’s Secretary Prasad Kulatunga said the prices of vehicles imported from Europe will be increased accordingly.  He said this luxury tax was imposed only on vehicles with a cylinder capacity of 1800 cc so far.