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Luxury Tax (LT) on motor vehicle - creed1
- Thread starter creed1
- Start date
.
Here is a comparison of duty between 2018 & new (2019) - This is not about the Luxury Tax
Prevoius Duty (2018)
New Duty (2019)
Accordingly Duty calculation is as follows
1.Toyota Axio WXB
Previous Duty = 1500 x 2500 = 3,750,000
New Duty = 1500 x 2850 = 4,275,000
Duty Increase = 525,000.00
2.Toyota Premio
Previous Duty = 1500 x 3250 = 4,875,000
New Duty = 1500 x 3700 = 5,500,000
Duty Increase = 625,000.00
මේක පරණයි බන්
Luxury tax eka gana katha karata, as a example, api gammu Premio ekak. Luxury tax eka wadinne nane aluth widihata. eth cc eka anuwa thama tax eka yanawada. Mama finance paththa gana wadiya danne na. Looking for a first car? So plz help
Sri Lanka will charge a so-called luxury tax from high value cars and SUVs for which import letter of credit was opened after March 05, 2019 and the basis of engine capacity to charge taxes has been removed, the finance minister said.
The luxury tax will be applicable to petrol and diesel cars and jeeps valued (CIF) over 3.5 million rupees, hybrids over 4.0 million rupees and electric vehicles over 6.0 million rupees.
The tax will no longer be charged on the engine size for vehicles below the capacity of 1,800cc, for petrol, 2,300cc for diesel and a 200 kiloWatt motor will not apply from November 01.
But letters of credit opened up to October 31 and imports cleared before April 21, 2020 will still not be charged the luxury tax.
The finance ministry said cars like Toyota Vitz, Suzuki Every, Toyota Roomy, Suzuki Alto, Suzuki Baleno, Daihatsu Petrol, Honda Grace, Suzuki Wagon R, Toyota Aqua will not be subject to the luxury tax.
Sedans like Toyoa Axio, Premio and Allion will also not attract the luxury tax, the finance ministry said. (Colombo/Oct29/2019)
Source: https://economynext.com/sri-lanka-luxury-tax-for-high-value-cars-engine-capacity-base-removed-29920/
Taxes wadinne nethi wahana tiyenne adu wenne ne CC ewa e widihatama tianawa
From Finance Ministry Web page
Luxury tax on motor vehicles will not be affected for small vehicles.
PUBLISHED ON 31ST OCTOBER 2019
The Finance Act has been amended as proposed in the Budget 2019 by Minister of Finance Hon. Mangala Samaraweera, the tax levied on motor vehicles will only be subject to luxury cars and jeeps and also the new tax will not be relevant to small cars.
Vans, single cabs, double cabs, motorcycles and motor tricycles are not subject to this luxury tax. Earlier, double cabs were subject to the luxury tax category but it will be thrown off from November 1.
This luxury tax will be effective from the 6th of March 2019 and the new tax will apply to all luxury vehicles in which the letters of credit were opened to import motor vehicles after 6th March. In accordance with the new regulations, while importing diesel as well as petrol cars and jeeps are valued over Rupees 35 lakhs then the luxury tax is levied only for the exceeding amount.
The CIF Value of Hybrid Vehicles has been exceeded Rupees 40 Lakhs and the value of an electric vehicle has been exceeded Rupees 60 Lakhs, the Luxury tax will be levied only for the exceeding amount.
With the advancement of the technology for motor vehicles, the luxury of vehicles is determined not only by the engine capacity but also the features of a vehicle. Accordingly, the tax on cylinder capacity for petrol cars below 1800 cylinder, diesel cars and jeeps below 2300 cylinder and for electric vehicles below 200 kW will be removed from 1st November. Whereas, until the 31st of October the letters of credit have been opened and the vehicles are imported and cleared before 21st April 2020 will be exempt from the luxury tax.
This is further emphasized that this luxury tax will not be applied to small vehicles.
Accordingly, this luxury tax will not be applicable for Toyota Vitz, Suzuki Every, Toyota Roomy, Suzuki Alto, Suzuki Baleno, Daihatsu Petrol, Honda Grace, Suzuki Wegon R and Toyota Aqua and also this luxury tax is not subject to normal Axio, Premio and Allion models.
BACK TO MAIN PAGE
Luxury tax on motor vehicles will not be affected for small vehicles.
PUBLISHED ON 31ST OCTOBER 2019
The Finance Act has been amended as proposed in the Budget 2019 by Minister of Finance Hon. Mangala Samaraweera, the tax levied on motor vehicles will only be subject to luxury cars and jeeps and also the new tax will not be relevant to small cars.
Vans, single cabs, double cabs, motorcycles and motor tricycles are not subject to this luxury tax. Earlier, double cabs were subject to the luxury tax category but it will be thrown off from November 1.
This luxury tax will be effective from the 6th of March 2019 and the new tax will apply to all luxury vehicles in which the letters of credit were opened to import motor vehicles after 6th March. In accordance with the new regulations, while importing diesel as well as petrol cars and jeeps are valued over Rupees 35 lakhs then the luxury tax is levied only for the exceeding amount.
The CIF Value of Hybrid Vehicles has been exceeded Rupees 40 Lakhs and the value of an electric vehicle has been exceeded Rupees 60 Lakhs, the Luxury tax will be levied only for the exceeding amount.
With the advancement of the technology for motor vehicles, the luxury of vehicles is determined not only by the engine capacity but also the features of a vehicle. Accordingly, the tax on cylinder capacity for petrol cars below 1800 cylinder, diesel cars and jeeps below 2300 cylinder and for electric vehicles below 200 kW will be removed from 1st November. Whereas, until the 31st of October the letters of credit have been opened and the vehicles are imported and cleared before 21st April 2020 will be exempt from the luxury tax.
This is further emphasized that this luxury tax will not be applied to small vehicles.
Accordingly, this luxury tax will not be applicable for Toyota Vitz, Suzuki Every, Toyota Roomy, Suzuki Alto, Suzuki Baleno, Daihatsu Petrol, Honda Grace, Suzuki Wegon R and Toyota Aqua and also this luxury tax is not subject to normal Axio, Premio and Allion models.
BACK TO MAIN PAGE
audi a1 ekee CIF eka 3.5 mil walata wadaa adui ne. eeka nisa no lux tax i think.. A1 eka agent genwanneth naha ne, eeka nisa CIF eka custom ekenma check karaganna wenawa. kohomath 3.5 mil walata enne naha ne. ee nisa awulak naha..
Clearing Agent confirm kala macho.... kisima chnage 1k naa kiyala... normal process 1k thamaithamath thiyenne..
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