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Message: <blockquote data-quote="monson" data-source="post: 22473981" data-attributes="member: 30005">Sri Lanka FM defuses duty shock on used electric carsNov 10, 2017 18:14 PM GMT+0530 | 0 Comment(s)ECONOMYNEXT - Sri Lanka's Finance Minister Mangala Samaraweera Friday agreed to extend the substantial duty concession announced in the budget for new electric cars to used models too, particularly the popular Nissan Leaf.In his otherwise progressive budget, Samaraweera had introduced a discriminatory clause which doubled the tax rate for used electric cars, even if the vehicle was just one-day old.The local agent for Nissan has not imported brand-new Leaf cars and those coming into the country are purchased new in japan and deregistered a few days later and shipped to Sri Lanka as a "used" vehicle.This type of practice has led to "zero mileage" vehicles which are actually brand-new, but brought in as "second hand" to side step the monopoly of authorised dealers who keep much higher margins than private importers.The minister said his intention was to make electric cars more popular, but was also keen to make sure that Sri Lanka does not become a dumping ground for used junk.However, it was pointed out to the minister that since the duty is based on the motor power of the vehicle and not on the cost or the age of the vehicle, importers preferred to get down newer vehicles.- <a href="http://www.economynext.com/Sri_Lanka_FM_defuses_duty_shock_on_used_electric_cars-3-9145-1.html" target="_blank">http://www.economynext.com/Sri_Lanka_FM_defuses_duty_shock_on_used_electric_cars-3-9145-1.html</a></blockquote>[/QUOTE]

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