Vehicle imports remain steady despite surcharge: Customs

Colombo, June 8 (Daily Mirror) - Sri Lanka Customs says vehicle imports have not declined significantly despite the surcharge imposed earlier this year, with imports continuing to contribute substantially to state revenue.

Speaking to the media, Customs spokesperson Chandana Punchihewa said that while a large number of imported vehicles remain unsold, the expected drop in imports has not materialised and the slight reduction observed has had no impact on government revenue.

He noted that vehicle imports account for around 30 per cent of total Customs income, with monthly revenue figures showing a steady contribution from the sector.

Punchihewa said Customs collected Rs. 235 billion in January, including Rs. 91 billion from vehicle imports, while revenue from vehicles amounted to Rs. 75 billion in February, Rs. 77 billion in March, Rs. 84 billion in April and Rs. 76 billion by May 28.

He further stated that the recent rise in the US dollar exchange rate, partly linked to the Middle East conflict, has increased the rupee value of Customs taxes, resulting in higher revenue collections rather than a decline.