Govt. targets Rs.300bn from vehicle taxes! 😀😀😀

[supun_sg]

Punchiammat denawaluda?

 

[Kolama]

හම්බෙයි පකක්

තියෙන ලඩියට අවුරුදු දවස් ටිකෙ ෆුල් රෙපෙයාර් එකක් දෙන්න ඕනෙ.

පුක තමයි . . දැන් මුන්ම නිව්ස් එකක් දැම්ම නේද අපේක්ෂිත ආදායම ලැබුනේ නැත්නම් බදු සංශෝදනයක් වෙන කතාවක් .
කට්ටිය දැන් එක වෙනකන් බලං ඉදි ගන්නේ නැතුව

අග්‍රීඩ්...

ඔච්චර ගානක් බදු ගෙවලා වාහනයක් ගන්නවා කියන්නෙ inland revenue එකටත් කියලා පුකේ ඇරගන්න සීන් එකක්.

 

[33000v]

මග ඇරුන මිනිස්සු

 

[Gwynbleidd]

ලීසින් කාරයන්ගේ ඇට ලේවකන්න ගිහින් අන්තිමට එන ගානත් නැති උනා.

 

[chami2015]

ලීසින් කාරයන්ගේ ඇට ලේවකන්න ගිහින් අන්තිමට එන ගානත් නැති උනා.

Saralawama onna okai une

 

[Kolama]

බලාපොරොත්තු වුන බදු ආදායම

ලැබුනු බදු ආදායම

 

[2osama]

දැන් ගහන බද්ද කීයද ?

400% ක විතර ගහනවා ඕයි බදු

 

[Mahesh Wanasinghe]

 

[Kolama]

400% ක විතර ගහනවා ඕයි බදු

ත්‍රීවිල් ජෙප්පො හිතුවෙ උන්ට වගේ අනිත් එවුන්ටත් වාහන මැජික් කියලා බං.

 

[roj]

Actually, they have to import 100,000 units in that case.

Lankawe awruddakata wadima import wela tyene 2016 year eke. 35000. .. natnm normally yane 15000 witara. Dan awrdu 5 import nati nisa me year eke loku import ekak wei. Hbai next year idan tami hikenne hadsi karyo okoma gttama.

 

[Hapuwa]

Creating a policy uncertainty is one of the worst things a government can do in a capitalistic market. Utterly incapable government.

 

[sahan50]

බලාපොරොත්තු වුන බදු ආදායම

ලැබුනු බදු ආදායම

වාර්තාව දැක්කම

 

[topkollek]

400% ක විතර ගහනවා ඕයි බදු

එහෙනම් බදු අදායම බිලියන 1200ක් ටාගට් කරන්න පුළුවන්.

 

[Mard]

Lankawe awruddakata wadima import wela tyene 2016 year eke. 35000. .. natnm normally yane 15000 witara. Dan awrdu 5 import nati nisa me year eke loku import ekak wei. Hbai next year idan tami hikenne hadsi karyo okoma gttama. View attachment 247194

Are you sure these are all imports? not local transfers?

 

[roj]

Are you sure these are all imports? not local transfers?

Uba kyane metat wada adui kyalada imports

 

[Mard]

Uba kyane metat wada adui kyalada imports

Na, mama danne na. Umbe data wala thiyenne imports witharada kiyalala ahanne. Imports nam hari.

 

[Amila llll]

 

[kasunkaru]

Govt. targets Rs.300bn from vehicle taxes, but many remain skeptical​

The maiden budget of the National People’s Power (NPP) government expects to raise around Rs.300 billion from excise taxes, value added tax and other taxes on vehicle imports in 2025, but many remain skeptical of its viability amid what some considered as an overly ambitious tax revenue target set for the year.

බලාපොරොත්තු වුන බදු ආදායම

ලැබුනු බදු ආදායම

Speaking at a post-budget forum organised by Institute of Certified Management Accountants of (CMA) Sri Lanka, Duminda Hulangamuwa, the Senior Economic Advisor to the President said Sri Lanka can spend up to US$ 1.2 billion in foreign currency on vehicle imports in its first year of re-opening and earmarks about Rs.300 billion or roughly 1.2 percent of Gross Domestic Product from its taxes.

A couple of days later speaking at the weekly cabinet media briefing, Professor Anil Jayantha, the Minister for Labour and Deputy Finance Minister affirmed the revenue share expected from vehicle imports.

Sri Lanka has budgeted to generate Rs.885 billion incremental revenues from taxes in 2025, of which roughly Rs.300 billion is set to come from vehicle imports. The balance is expected to generate from the continuous growth in the economy which is projected to grow at a modest pace of 5.0 percent in 2025 and also the digitalisation and the enhancing the tax administration efforts.

Speaking at the same budget forum, tax expert and the Principal Tax and Regulatory at KPMG, the global auditors, Suresh Perera however wasn’t that convinced. He said the target tax revenue could be in jeopardy if the vehicle imports relaxation does not result in the expected number of vehicles under the current tax structure on vehicles which remains shockingly higher.

Sri Lanka re-opened vehicle imports after five years since it was banned in 2020 March due to the pandemic induced challenges to the foreign currency inflows.

The move resulted in the government losing roughly Rs.250 billion of revenue per annum from excise taxes and other vehicle related taxes to the national coffers, bringing the total lost revenue in the five years to about Rs.1,500 billion at a minimum.

But the so-called experts all jumped in to find fault in the tax cuts by the then Rajapaksa administration to prop up the economy which was under enormous strain from higher taxes under the then International Monetary Fund programme.

In any case, Perera illustrated the likely problem with vehicle taxes using what is widely known as the Laffer curve – a bell curve analysis – which shows the relationship between tax rates and tax revenue in an economy.

According to the Laffer Curve, which is based on the theory by American economist Arthur Laffer in 1974, the tax revenue most likely will not maximise when tax rate is at 100 percent as it disincentivises those from earning wages.

And hence it plotted the revenues at different tax rates and identified an optimal rate at the top of the bell curve which the revenue is maximized and concluded by saying that either decreasing or increasing the tax rate from the optimal level would result in losing tax revenue.

Professor Jayantha last week hinted that they could revise down vehicle import taxes if the demand fails to pick up for vehicles.

The decision to re-open vehicle imports at very high taxes was made considering the need to ensure such action does not put pressure on the country’s external sector stability.

“We change the duties to increase the prices. But now an indication has been given by the Central Bank about the possibility of reducing import duties,” Jayantha was quoted to have said in a post-cabinet media briefing last week.

Sri Lanka aims at raising a total tax revenue of Rs. 4,590 billion, bringing up its share to 13.9 percent of GDP and expects to expense a sum of Rs.7,190 billion, 21.8 percent of GDP, resulting in a total deficit of 6.7 percent of GDP, down slightly from 6.8 percent expected for 2024.

Source: https://www.dailymirror.lk/breaking...le-taxes-but-many-remain-skeptical/108-303007

100 billionwat awot loku deyk kawuda machoo vehicles ganne mechchra tax gewala

 

[Asmodeus]

එහෙනම් බදු අදායම බිලියන 1200ක් ටාගට් කරන්න පුළුවන්.

This time the importers can't stock their vehicles, so imports will depend on orders. I think a few very rich people will place some orders. the rest will join the waiting game.

 

[johnferna678]

ලප කොට හොඳම එකෙන් කෙලෝ ගන්න යන්නේ