3% fine to be imposed if vehicles imported not registered within 90 days

7 March 2025 09:38 am Views - {{hitsCtrl.values.hits}} 3 Bookmark

A A A

Colombo, March 7 (Daily Mirror) - The vehicles imported to Sri Lanka after the ban was lifted must be registered within 90 days and failing which 3% fine will be imposed on unregistered vehicles, subject to a maximum of 45%, the Ministry of Finance said.

Finance Ministry officials had informed this to the Committee on Public Finance which met in parliament chaired by MP Harsha de Silva.

They have also said that if 25% of the total number of vehicles imported by any importer in particular is not registered within 6 months, consensus of importation will be suspended.

Officials representing the Ministry of Finance, Planning and Economic Development said that vehicle imports have been allowed under certain conditions and these conditions have been imposed pertaining to importation of vehicles in view of encouraging the revival of normal economic activities and safeguarding the economic stability of the country, while taking into account protecting foreign exchange reserves, discouraging the importation of an excess number of vehicles and keeping away unnecessary stocks of motor vehicles.

The Ministry officials stated that if anyone wishes to import vehicles on a personal capacity only one vehicle can be imported whilst a trader does not have such a condition.

The Committee also took into discussion regarding an appeal for policy support to safeguard Sri Lanka’s domestic electric vehicle industry.

Comments - 3

joshua Friday, 07 March 2025 09:50 AM

Good move

0 12

Elsa Friday, 07 March 2025 10:32 AM

3% is a soft blow but 30% is a gut punch and a good deterrent.

0 10

Percy Kartrades. Saturday, 08 March 2025 08:15 PM

First release the vehicles into the market. Not a single vehicle has come out other than Double Cabs. Customs are changing rules to archaic ones after the vehicles have landed in the Port. First the customs should interpret the meaning of HYBRID correctly before jumping to conclusions.

0 0

222

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.