Fri, 29 Mar 2024 Today's Paper

Vehicle prices up after Budget

By

7 March 2019 10:28 am - 1     - {{hitsCtrl.values.hits}}

A A A

 

By Chaturanga Samarawickrama 

Due to the revision of Excise Duty on motor vehicles and luxury tax on the recent budget proposal, the local vehicle prices would be increased by a minimum of Rs.150,000, Vehicle Importers Association of Sri Lanka (VIASL) Chairman Ranjan Peiris said.

 After imposing taxes, imported vehicle prices had been increased between Rs.150,000 and Rs.600,000.   


Accordingly, subsequent to customs import taxes, vehicles with engine capacity less than 800cc such as Suzuki Alto, Daihatsu Mira, Toyota Pixis and Honda N Box have gone up by Rs.150,000.   


Vehicles with engine capacity less than 1000cc such as Toyota Vios, Toyota Passo and some Honda models are up by Rs.250,000.   


Vehicles with engine capacity less than 1300cc such as Toyota C-HR and Toyota Yaris have gone up by Rs.500,000.   


A Rs.600,000 increase in Petrol vehicles with engine capacity less than 1500cc such as Toyota Premio, Toyota Allion and Honda CR-V.   Prices have gone up by Rs. 250,000 on Hybrid vehicles with engine capacity less than 800cc such as Suzuki Wagon R and Suzuki Spacia.   Hybrid vehicles with engine capacity less than 1500cc such as Toyota Axio, Honda Vezel and Honda Grace hare up by Rs.500,000. 

 
However, the import tax on electric motor vehicles of 70 kw were brought down by Rs. 175,000.   
“We do not import electric vehicles as they are not fast selling. Reducing taxes on vehicles which are not fast-selling is useless. Before reducing the taxes the government should provide infrastructure and accessory facilities,” Mr. Pieris said.   


Meanwhile, following the budget proposal, the Excise Duty on vehicles imported as chassis fitted with engines will be reduced.   


Accordingly, the Excise Duty on hearses, single cabs will be revised.   


The Excise Duty on the hybrid and electric vans will be revised to reflect the energy efficiency benefits. The Duty on Buddy Trucks with cargo carrying capacity less than 2000 kg will be reduced under the Budget proposal.   


“The 200% cash deposit on Letter of Credit (LC) had been removed by the Ministry but a ‘luxury tax’ would be calculated if the LC exceeds Rs.3.6 million,” he said.   

 

 


Order Gifts and Flowers to Sri Lanka. See Kapruka's top selling online shopping categories such as Toys, Grocery, Kids Toys, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,Astrology, Courier/Delivery, Medicine Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka

  Comments - 1

Order Gifts and Flowers to Sri Lanka. See Kapruka's top selling online shopping categories such as Toys, Grocery, Kids Toys, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,Astrology, Courier/Delivery, Medicine Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka
  • C premarathna Thursday, 19 March 2020 12:22 AM

    I want hi value low selling price used vehicale (lees kara athata laksa 40 antenatal)


Add comment

Comments will be edited (grammar, spelling and slang) and authorized at the discretion of Daily Mirror online. The website also has the right not to publish selected comments.

Reply To:

Name - Reply Comment





Order Gifts and Flowers to Sri Lanka. See Kapruka's top selling online shopping categories such as Toys, Grocery, Kids Toys, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,Astrology, Courier/Delivery, Medicine Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka

VAT increase: SOUNDs death knell for publishers, readers

Though the Government imposed VAT (Value Added Tax) on vegetables and other e

How female change-makers are driving Sri Lanka’s energy saving platform

Saving energy has become more of a responsibility than a habit in today’s c

A dull Ramadan awaits Muslims amidst the Soaring Cost of Living

In the coming days, Muslims across the world will welcome the Holy Month of R

New wildlife underpass to curtail HEC

As of February 2024, Sri Lanka lost another 38 elephants as a result of the H