The government is working to take an urgent decision to import vehicles as the government revenue expected from the Customs Department has depleted by a huge margin where only Rs. 330 billion rupees have been received in the first 5 months whereas the expected income stood at Rs. 1226 billion within the year.
This was revealed at the Sectoral Oversight Committee on National Economic and Physical Plans, chaired by Mahindananda Aluthgamage which met recently at the Parliament Complex.
Customs officials said that the expected income cannot be reached due to the restrictions imposed on the import of goods including the suspension of vehicle imports.
Customs officials predict that the income that can be obtained this year is Rs. 783 billion.
They statistically pointed out that about 20% of the revenue received by the customs comes from the taxes imposed on the import of vehicles and until the restrictions on the import of vehicles are in place, this expected revenue cannot be reached.
Officials pointed out the possibility of importing vehicles under a credit line system with another country and that it is the best way to increase the customs revenue. The officials also said that if the proposals of the customs are fulfilled, the revenue can reach around 1,100 billion rupees.
The Chairman of the Committee said that since discussions have already started on this matter, the government is working to take an urgent decision regarding the import of vehicles.(Ajith Siriwardana)
Source: https://www.dailymirror.lk/breaking...on-on-vehicle-imports-Mahindananda/108-261033
This was revealed at the Sectoral Oversight Committee on National Economic and Physical Plans, chaired by Mahindananda Aluthgamage which met recently at the Parliament Complex.
Customs officials said that the expected income cannot be reached due to the restrictions imposed on the import of goods including the suspension of vehicle imports.
Customs officials predict that the income that can be obtained this year is Rs. 783 billion.
They statistically pointed out that about 20% of the revenue received by the customs comes from the taxes imposed on the import of vehicles and until the restrictions on the import of vehicles are in place, this expected revenue cannot be reached.
Officials pointed out the possibility of importing vehicles under a credit line system with another country and that it is the best way to increase the customs revenue. The officials also said that if the proposals of the customs are fulfilled, the revenue can reach around 1,100 billion rupees.
The Chairman of the Committee said that since discussions have already started on this matter, the government is working to take an urgent decision regarding the import of vehicles.(Ajith Siriwardana)
Source: https://www.dailymirror.lk/breaking...on-on-vehicle-imports-Mahindananda/108-261033
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