Vehicle prices to take a downward trend

Vehicle prices to take a downward trend

Vehicle prices to take a downward trend

Written by News 1st

27 Oct, 2014 | 8:56 am

The Vehicle Importers Association in Sri Lanka says that tax reliefs introduced by the budget will come into effect on Monday.

Chairman Indika Sampath Merenchige, said that the prices of vehicles have gone down with the tax relieves introduced by the budget.

He added that this will have direct impact on the country’s vehicle market.

The chairman of the Vehicle Importers Association said:

“We must say that through this the whole tax system has been made simple. On our part as importers it is very good, because the tax is taken directly from the customs. In order to make electric cars popular in Sri Lanka the government has given a tax relief, by reducing the tax from 30% to 23%. The tax of over 152% that was in place when importing vans has reduced to 97.5%. The relieves on hybrids were granted in 2010 and it has faced no change.”


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