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Sri Lanka ups taxes on larger cars, SUVs up by two million - Update

May 27, 2016 11:08 AM GMT+0530 | 3 Comment(s)

ECONOMYNEXT - Sri Lanka has cut taxes on small cars with engines capacity below 1,000 cubic centimetres but upped taxes on larger cars, motor trade officials said.

A Nissan X-Trail were taxes were earlier about 4.6 million rupees had gone up to 7.9 million which may push the street price to 10 to 11 million rupees, an importer said.

The tax on an Outlander which was about 5.4 million had now gone to 7.96 million rupees. The retail price may move close to 13 million, sources said.

A mid-sized Axio hybrid which had a tax of about 2.8 million would now draw a tax of 3.0 million rupees. The prices of Aqua and Fit cars will also go up.

The taxes on a Wagon-R which was about 1.5 to 1.6 million would now come down to about 1.35 million, sources said.

However auction prices in Japan had already started to move up on small cars.

The auction prices on larger cars can also come down, when import demand falls.

Secondary market price tax free permits of the elected ruling class and state workers will also go up, giving them more tax-arbitrage profits.

A permit which a member of parliament could sell at about 20 million rupees up to yesterday, may now go up to about 30 million or more depriving tax to the state. From secondary market prices are not yet available. (Colombo/May27/2016).


 

3 Comments

  1. AnimalFarm May 28, 09:43 AM

    Some Animals are more equal than others.

  2. sacre12ka4blieu May 28, 09:24 AM

    What a strange way of increasing and collecting taxes to make up for the lapses of those responsible to ensure the state is justifiably replenished. The fraudster and financial criminals are laughing all the way to their banks with the justice never done. All the public comments are been ignored and worse than pouring water on a ducks back, and even if the elephant is taken to a water fall with his posterior pointing to it , nothing will happen in the name of justice.

  3. sacre12ka4blieu May 28, 07:50 AM

    The continued privileges of permits to parliamentarians and the bureaucrats should now brought down to a level of been equitable with the rest of the population.This concession is absurd and was introduced by the UNP during the time when Ronnie De Mel was finance minister. In a sense it reflects sinister connotations. Those at the higher strata enjoy life, while those at the bottom layer, the many, get pummeled with various burdens of life.

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