Sri Lanka's vehicle importers met with the Sri
Lankan President Mahinda Rajapaksa today at the Temple Trees to discuss
the restrictions and levies imposed by the Ministry of Finance on the
vehicle imports.
Following the meeting with the Vehicle Importers Association a decision
was taken to relax the age limit of reconditioned vehicles.
Accordingly, the age limit for reconditioned cars has been increased
to two years from the previous limit of one year and the age limit for
commercial vehicles has been increased to four years from the previous
limit of three and half years.
On a request made by the Vehicle Importers Association for revision of
the duty structure, President had explained that higher duty structure
cannot be changed since revenue safeguards were important in the current
context.
The government raised taxes significantly on
motor vehicles effective March 31, 2012, as a measure to arrest the
growing trade deficit and curtail the expenses the government incurring
in importing fuel.
Deputy Minister of Finance and Planning Geethanjana Gunawardena, Secretary to the Ministry of Finance Dr. P.B. Jayasundera, President's chief of Staff Gamini Senarath were also present at the discussion.
Courtesy: www.colombopage.com
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