Hybrid vehicle tax issue accelerates (Video)

Hybrid vehicle tax issue accelerates (Video)

Written by Lahiru Fernando

06 Feb, 2015 | 8:29 pm

The Lanka Vehicle Importers’ Association says that the Finance Minister has refused their request for the tax on hybrid vehicles to be reduced.

However, the Association noted that the Minister had agreed conditionally, to provide concessions for people who opened letters of credit to personally import hybrid vehicles, before the budget was presented in Parliament.

The prices of hybrid vehicles have increased by between Rs.700,000  and Rs.1.2 million as a result of the tax proposed by the interim budget.

Importers noted that they would be unable to bear the cost. People who had already opened letters of credit to personally import vehicles, requested that they be provided with some concession.

The Finance Minister had granted the Lanka Vehicle Importers Association an opportunity to hold talks on the matter Friday.

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