PM clarifies tax on vehicles below 1000cc

August 8, 2018 02:12 pm

Tax imposed on vehicles below 1000cc will not be effective on LCs opened before 1st of August until 31st January 2019, stated Prime Minister Ranil Wickremesinghe.

The import duty on vehicles which are less than 1000cc has been increased with effect from August 1, the Finance Ministry said.

Accordingly the import duty on normal vehicles less than 1000cc has been increased up to Rs 1.5 million while the duty on Hybrid vehicles less than 1000cc is increased up to Rs 1.25 million.

However, this per unit tax is not applicable on importation of specified motor vehicles which had been imported based on Letters of Credit (LC) established on or before August 1, 2018 and cleared from Sri Lanka Customs on or before January 31, 2019.

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