No tax revisions on vehicle imports this year - Hulangamuwa

Senior Economic Advisor to the President, Duminda Hulangamuwa, confirmed that there will be no revision of taxes on vehicle imports this year. 

As a result, vehicle prices in the market are expected to remain unchanged this year, he said.

Hulangamuwa made these remarks while joining TV Derana’s current affairs program “360°” last night (24).

Addressing a question about the forecasted importation of vehicles worth around one billion US dollars this year, Hulangamuwa provided insights into the expected revenue in rupees.

“We anticipate revenue between 300 to 350 billion rupees. With the current economic growth, we are taking a ‘wait-and-see’ approach regarding vehicle imports. If anyone expects a tax reduction, it will not happen this year. Our agreement with the International Monetary Fund (IMF) clearly states that vehicle taxes cannot be reduced this year,” he explained.

Hulangamuwa also commented on speculation regarding his potential appointment as the Secretary to the Ministry of Finance.

When asked whether he would be the next Finance Secretary, he responded, “That decision lies with the President.”

He further clarified that there had been no formal discussions between himself, the President, or the Ministry of Finance regarding his suitability for the position. 

“If the President invites me to take up the position, I would need to carefully consider my decision. I have been with EY Sri Lanka for four years, and there are commitments and expectations there as well. EY also has significant plans this year, so I must take all these factors into account before making a decision,” he stated.

When pressed on whether discussions were happening, he added, “Yes, internal discussions are taking place. Let’s see what happens.”