Imports of vehicles to Sri Lanka climb increasing state revenues
Sri Lanka Customs data show that the vehicle imports have gone up sharply after the reduction of import taxes in June 2010.
Director General of Sri Lanka Customs Mrs. Sudarma Karunaratna told Sri Lanka Broadcasting Corporation that about 450 to 500 vehicles are released daily by the customs.
The radio also reported that Secretary to the Ministry of Finance and Planning Dr. P.B. Jayasundara said there will not be any revision to the tax relief given to import motor vehicles and other related items.
Sri Lanka in June this year reduced vehicle import taxes by 50 percent and removed the 15% import surcharge levied on all imports.
He asked the traders and businessmen not to panic or delay the deals in this regard. Dr. Jayasundara further said that state tax revenues have shot up due to the increase of imports of motor vehicles.
Sri Lanka Customs data show that the vehicle imports have gone up sharply after the reduction of import taxes in June 2010.
Director General of Sri Lanka Customs Mrs. Sudarma Karunaratna told Sri Lanka Broadcasting Corporation that about 450 to 500 vehicles are released daily by the customs.
The radio also reported that Secretary to the Ministry of Finance and Planning Dr. P.B. Jayasundara said there will not be any revision to the tax relief given to import motor vehicles and other related items.
Sri Lanka in June this year reduced vehicle import taxes by 50 percent and removed the 15% import surcharge levied on all imports.
He asked the traders and businessmen not to panic or delay the deals in this regard. Dr. Jayasundara further said that state tax revenues have shot up due to the increase of imports of motor vehicles.
