Saturday, March 31, 2012

How Sri Lanka increases taxes on motor vehicles

Sri Lanka government has increased the production tax on motor vehicles with effect from midnight March 31, 2012 and as a result the overall taxes on most of the vehicles have gone sharply up.

Accordingly, the overall tax on hybrid motor cars go up like this.
Less than 2000 cc - 60% (up 9%)
Above 2000 cc - 125% (up 25%)
Above 2000 cc - 200% (up 25%)

Petrol cars
Less than 1000 cc - 200% (up 80%)
Between 1000 cc - 1600 cc - 200% (up 71%)
Between 1600 cc - 2000 cc - 200% (up 64%)
Above 2000 cc - 250% (up 96%)
Above 3000 cc - 275% (up 86%)

Minimum total tax on diesel cars is 250%.

Minimum tax total on vans is 125%.

Tax on diesel and petrol trishaws is 100%. Up 49% for petrol and 39% for diesel.

The tax on motorcycles is 100% which is up 39%.

Tax structure for buses, lorries, trucks and agricultural tractors remain unchanged.

The government statement in this regard indicates that the new tax structure is introduced to slash import costs. The tax structure appears to kill the motor industry.

Share this article

Digg Google Bookmarks reddit Mixx StumbleUpon Technorati Yahoo! Buzz DesignFloat Delicious BlinkList Furl

0 comments: on "How Sri Lanka increases taxes on motor vehicles"

Post a Comment

Thank you for your comment!

Related Posts Plugin for WordPress, Blogger...