අය වැය පරාද කරනවා කිව්වා නේද ? කෝ එකෙක් විරුද්ධ වුණේ නෑනේ. 3වෙනි පාරත් කියෙව්වද ?
Deal pappa wirudda wela nadda
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SL budget vehicle tax 1500cc or above
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Deal pappa wirudda wela nadda
All you need to know about the new vehicle taxes
COLOMBO (News 1st): The 2019 Budget proposal presented on Monday (March 4) by Minister of Finance Mangala Samaraweera had it’s good and bad – depending on how one looked at it.
One thing that caught the people’s attention in particular, was the increase in taxation of vehicles. Taxes were increased for small vehicles and a new tax system was introduced for Luxury vehicles above Rs. 3.5 Million.
Petrol and Hybrid vehicles
Prior to the 2019 Budget;
A petrol vehicle with 650cc engine capacity had a Rs. 1,500,000 tax slammed on it, with the tax on its Hybrid counter-part being Rs 250,000 lesser. Vehicles with a 1000cc engine had a Rs. 1,750,000 tax slammed on them, while the Hybrid vehicle with the same capacity suffered Rs. 500,000 lesser in taxes.
Any vehicle with an engine capacity between 1000cc and 1300cc came with a Rs. 3,575,000 tax. The same capacity range Hybrid had a Rs. 2,600,000 tax on it.
Those between 1300cc and 1500cc came with a Rs. 4,875,000 tax riding on it, while it’s Hybrid counter-part carried a Rs. 3,750,000 tax on it.
A Hybrid vehicle with engine capacities between 1800cc and 2000cc had a Rs. 10,000,000 tax slapped on it.
Following are the figures provided by the Vehicle Importers Association after the 2019 Budget presentation;
To be more specific, the following graphic shows a list of the most common vehicles purchased by the average Sri Lankan, and how the prices on those vehicles have increased.
The Luxury Tax
This next bit can get a little tricky to understand, so bear with us.
The 2019 Budget which was presented on Monday (March 4) imposed varied taxes on ‘luxury vehicles’. According to the Budget, the taxes are to be imposed on CIF (Cost, Insurance and Freight) value.
Taxes added to the original price (when the tax-free threshold is exceeded) are as follows:
Diesel vehicles: When cost exceeds by Rs 3.5mn – 120% tax added
Petrol vehicles: When cost exceeds by Rs 3.5mn – 100% tax added
Hybrid Diesel: When cost exceeds by Rs.4mn – 90% tax added
Hybrid Petrol: When cost exceeds by Rs.4mn – 80% tax added
Electric vehicle: When cost exceeds by Rs.6mn – 60% tax added
This has been dubbed as the ‘hidden luxury tax’ by the Vehicle Importers Association. As a result of this ‘hidden’ tax, all vehicles with a CIF value of Rs. 3.5 million or over will be subjected to an additional “Luxury tax”.
According to Arosha Rodrigo, the Secretary of the Vehicle Importers’ Association, these increases -coupled with the depreciation of the rupee- has “resulted in a significant price increase for new imports”. Rodrigo says that the newly introduced “Luxury tax”, which is imposed on top of the existing import tax, has made it impossible to import vehicles which have got a CIF value of above Rs. 3,500,000.
“Even though the treasury is expecting a boost in revenue from vehicle imports, this increase will only deter importers to import new stock as the new stock is bound to be drastically more expensive than the existing stock,” he added.
What are the vehicles which will be affected by this tax, you ask?
The following is a list of the most popular/common vehicles which fall in this category and their price increases next to it.
Is all this a good thing? or bad?
Like we said at the beginning, it all depends on how you look at it – and also how the government sticks to its promises, proposals, and execution.
A point and a section of the budget which is overlooked by almost everyone is that the Minister of Finance proposed developments to improve the public transportation in Sri Lanka in the next five years.
If the government stands by its promise to develop the public transportation system in terms of quality, standard, and discipline, and introduce a light-rail, people won’t have to use their vehicles as much. This, in turn, will reduce congestion in Colombo, Greater Colombo and even in Kandy by a significant amount.
Source: https://www.newsfirst.lk/2019/03/08/all-you-need-to-know-about-the-new-vehicle-taxes/
COLOMBO (News 1st): The 2019 Budget proposal presented on Monday (March 4) by Minister of Finance Mangala Samaraweera had it’s good and bad – depending on how one looked at it.
One thing that caught the people’s attention in particular, was the increase in taxation of vehicles. Taxes were increased for small vehicles and a new tax system was introduced for Luxury vehicles above Rs. 3.5 Million.
Petrol and Hybrid vehicles
Prior to the 2019 Budget;
A petrol vehicle with 650cc engine capacity had a Rs. 1,500,000 tax slammed on it, with the tax on its Hybrid counter-part being Rs 250,000 lesser. Vehicles with a 1000cc engine had a Rs. 1,750,000 tax slammed on them, while the Hybrid vehicle with the same capacity suffered Rs. 500,000 lesser in taxes.
Any vehicle with an engine capacity between 1000cc and 1300cc came with a Rs. 3,575,000 tax. The same capacity range Hybrid had a Rs. 2,600,000 tax on it.
Those between 1300cc and 1500cc came with a Rs. 4,875,000 tax riding on it, while it’s Hybrid counter-part carried a Rs. 3,750,000 tax on it.
A Hybrid vehicle with engine capacities between 1800cc and 2000cc had a Rs. 10,000,000 tax slapped on it.
Following are the figures provided by the Vehicle Importers Association after the 2019 Budget presentation;
To be more specific, the following graphic shows a list of the most common vehicles purchased by the average Sri Lankan, and how the prices on those vehicles have increased.
The Luxury Tax
This next bit can get a little tricky to understand, so bear with us.
The 2019 Budget which was presented on Monday (March 4) imposed varied taxes on ‘luxury vehicles’. According to the Budget, the taxes are to be imposed on CIF (Cost, Insurance and Freight) value.
Taxes added to the original price (when the tax-free threshold is exceeded) are as follows:
Diesel vehicles: When cost exceeds by Rs 3.5mn – 120% tax added
Petrol vehicles: When cost exceeds by Rs 3.5mn – 100% tax added
Hybrid Diesel: When cost exceeds by Rs.4mn – 90% tax added
Hybrid Petrol: When cost exceeds by Rs.4mn – 80% tax added
Electric vehicle: When cost exceeds by Rs.6mn – 60% tax added
This has been dubbed as the ‘hidden luxury tax’ by the Vehicle Importers Association. As a result of this ‘hidden’ tax, all vehicles with a CIF value of Rs. 3.5 million or over will be subjected to an additional “Luxury tax”.
According to Arosha Rodrigo, the Secretary of the Vehicle Importers’ Association, these increases -coupled with the depreciation of the rupee- has “resulted in a significant price increase for new imports”. Rodrigo says that the newly introduced “Luxury tax”, which is imposed on top of the existing import tax, has made it impossible to import vehicles which have got a CIF value of above Rs. 3,500,000.
“Even though the treasury is expecting a boost in revenue from vehicle imports, this increase will only deter importers to import new stock as the new stock is bound to be drastically more expensive than the existing stock,” he added.
What are the vehicles which will be affected by this tax, you ask?
The following is a list of the most popular/common vehicles which fall in this category and their price increases next to it.
Is all this a good thing? or bad?
Like we said at the beginning, it all depends on how you look at it – and also how the government sticks to its promises, proposals, and execution.
A point and a section of the budget which is overlooked by almost everyone is that the Minister of Finance proposed developments to improve the public transportation in Sri Lanka in the next five years.
If the government stands by its promise to develop the public transportation system in terms of quality, standard, and discipline, and introduce a light-rail, people won’t have to use their vehicles as much. This, in turn, will reduce congestion in Colombo, Greater Colombo and even in Kandy by a significant amount.
Source: https://www.newsfirst.lk/2019/03/08/all-you-need-to-know-about-the-new-vehicle-taxes/
All you need to know about the new vehicle taxes
COLOMBO (News 1st): The 2019 Budget proposal presented on Monday (March 4) by Minister of Finance Mangala Samaraweera had it’s good and bad – depending on how one looked at it.
One thing that caught the people’s attention in particular, was the increase in taxation of vehicles. Taxes were increased for small vehicles and a new tax system was introduced for Luxury vehicles above Rs. 3.5 Million.
Petrol and Hybrid vehicles
Prior to the 2019 Budget;
A petrol vehicle with 650cc engine capacity had a Rs. 1,500,000 tax slammed on it, with the tax on its Hybrid counter-part being Rs 250,000 lesser. Vehicles with a 1000cc engine had a Rs. 1,750,000 tax slammed on them, while the Hybrid vehicle with the same capacity suffered Rs. 500,000 lesser in taxes.
Any vehicle with an engine capacity between 1000cc and 1300cc came with a Rs. 3,575,000 tax. The same capacity range Hybrid had a Rs. 2,600,000 tax on it.
Those between 1300cc and 1500cc came with a Rs. 4,875,000 tax riding on it, while it’s Hybrid counter-part carried a Rs. 3,750,000 tax on it.
A Hybrid vehicle with engine capacities between 1800cc and 2000cc had a Rs. 10,000,000 tax slapped on it.
Following are the figures provided by the Vehicle Importers Association after the 2019 Budget presentation;
To be more specific, the following graphic shows a list of the most common vehicles purchased by the average Sri Lankan, and how the prices on those vehicles have increased.
The Luxury Tax
This next bit can get a little tricky to understand, so bear with us.
The 2019 Budget which was presented on Monday (March 4) imposed varied taxes on ‘luxury vehicles’. According to the Budget, the taxes are to be imposed on CIF (Cost, Insurance and Freight) value.
Taxes added to the original price (when the tax-free threshold is exceeded) are as follows:
Diesel vehicles: When cost exceeds by Rs 3.5mn – 120% tax added
Petrol vehicles: When cost exceeds by Rs 3.5mn – 100% tax added
Hybrid Diesel: When cost exceeds by Rs.4mn – 90% tax added
Hybrid Petrol: When cost exceeds by Rs.4mn – 80% tax added
Electric vehicle: When cost exceeds by Rs.6mn – 60% tax added
This has been dubbed as the ‘hidden luxury tax’ by the Vehicle Importers Association. As a result of this ‘hidden’ tax, all vehicles with a CIF value of Rs. 3.5 million or over will be subjected to an additional “Luxury tax”.
According to Arosha Rodrigo, the Secretary of the Vehicle Importers’ Association, these increases -coupled with the depreciation of the rupee- has “resulted in a significant price increase for new imports”. Rodrigo says that the newly introduced “Luxury tax”, which is imposed on top of the existing import tax, has made it impossible to import vehicles which have got a CIF value of above Rs. 3,500,000.
“Even though the treasury is expecting a boost in revenue from vehicle imports, this increase will only deter importers to import new stock as the new stock is bound to be drastically more expensive than the existing stock,” he added.
What are the vehicles which will be affected by this tax, you ask?
The following is a list of the most popular/common vehicles which fall in this category and their price increases next to it.
Is all this a good thing? or bad?
Like we said at the beginning, it all depends on how you look at it – and also how the government sticks to its promises, proposals, and execution.
A point and a section of the budget which is overlooked by almost everyone is that the Minister of Finance proposed developments to improve the public transportation in Sri Lanka in the next five years.
If the government stands by its promise to develop the public transportation system in terms of quality, standard, and discipline, and introduce a light-rail, people won’t have to use their vehicles as much. This, in turn, will reduce congestion in Colombo, Greater Colombo and even in Kandy by a significant amount.
Source: https://www.newsfirst.lk/2019/03/08/all-you-need-to-know-about-the-new-vehicle-taxes/
ඊලග ඉලෙක්ශන් එකේදි හුකෝල ගමු මුන්ට.
ECONOMYNEXT – Sri Lanka’s main car dealers were offering pre-budget prices for fleets of vehicles in stock, but the demand had virtually dried up both in the new and second-hand markets, dealers said Sunday.
United Motors took out advertisements offering Eclipse and Xpander models at the pre-budget price with a saving of 1.6 million on the new customs duty rate. Mercedes-Benz agent Dimo said it was selling the French-made Citan at the pre-budget price of 6.8 million.
Unregistered car dealers – US car Sales, Sachin Auto, and Lekhraj and Sons – also advertised their stocks at old prices while many private sellers too tried to move their stocks at pre-budget prices.
“Before the budget, we have very little demand, but when the taxes were increased, even that demand seems to have evaporated,” a dealer at Stanley Thilakaratne Mawatha, said.
He said lack of demand was seen in the second-hand market too.
“Prices should have gone up when the rupee depreciated, but that didn’t happen. In fact, second-hand prices have come down sharply because it is now a buyers’ market. People don’t seem to have money for investing in wheels,” he added.
Under the new duty structure, the popular Suzuki Wagon R model will cost an additional 250,000 rupees while cars in the 1,000 to 1,300 cc category will cost half a million more. But, for the stocks imported before the budget, there was no apparent increase, according to dealers.
Higher-end models such as the entry-level Mercedes C class would cost about four million rupees more.
Finance Minister Mangala Samaraweera in a bid to encourage environmentally cleaner electric cars, slightly reduced taxes on electric vehicles, but the concession was for vehicles with a motor power of less than 100 kilowatts.
However, there is no EV imported into the country currently with a motor less than 100 KW. Minister Samaraweera told reporters last week that he will ask his officials to look into the issue.
The second-hand EV market was almost non-existent after a previous duty cut shaved off nearly 50 percent of the value of cars already in the country. The Nissan Leaf, which cost 4.5 million rupees in 2014, is now worth less than 1.5 million rupees, partly due to loss of battery capacity and regular duty reductions.
A Leaf owner in Galle advertised his car for sale on Sunday at 1.4 million and said he was ready to negotiate the price further down, underscoring how electric vehicles have failed to take off in the country. (COLOMBO, March 10, 2019-SB)
https://economynext.com/Sri_Lanka_car_market_stalls_as_duty_increase_hits_demand-3-13682.html
United Motors took out advertisements offering Eclipse and Xpander models at the pre-budget price with a saving of 1.6 million on the new customs duty rate. Mercedes-Benz agent Dimo said it was selling the French-made Citan at the pre-budget price of 6.8 million.
Unregistered car dealers – US car Sales, Sachin Auto, and Lekhraj and Sons – also advertised their stocks at old prices while many private sellers too tried to move their stocks at pre-budget prices.
“Before the budget, we have very little demand, but when the taxes were increased, even that demand seems to have evaporated,” a dealer at Stanley Thilakaratne Mawatha, said.
He said lack of demand was seen in the second-hand market too.
“Prices should have gone up when the rupee depreciated, but that didn’t happen. In fact, second-hand prices have come down sharply because it is now a buyers’ market. People don’t seem to have money for investing in wheels,” he added.
Under the new duty structure, the popular Suzuki Wagon R model will cost an additional 250,000 rupees while cars in the 1,000 to 1,300 cc category will cost half a million more. But, for the stocks imported before the budget, there was no apparent increase, according to dealers.
Higher-end models such as the entry-level Mercedes C class would cost about four million rupees more.
Finance Minister Mangala Samaraweera in a bid to encourage environmentally cleaner electric cars, slightly reduced taxes on electric vehicles, but the concession was for vehicles with a motor power of less than 100 kilowatts.
However, there is no EV imported into the country currently with a motor less than 100 KW. Minister Samaraweera told reporters last week that he will ask his officials to look into the issue.
The second-hand EV market was almost non-existent after a previous duty cut shaved off nearly 50 percent of the value of cars already in the country. The Nissan Leaf, which cost 4.5 million rupees in 2014, is now worth less than 1.5 million rupees, partly due to loss of battery capacity and regular duty reductions.
A Leaf owner in Galle advertised his car for sale on Sunday at 1.4 million and said he was ready to negotiate the price further down, underscoring how electric vehicles have failed to take off in the country. (COLOMBO, March 10, 2019-SB)
https://economynext.com/Sri_Lanka_car_market_stalls_as_duty_increase_hits_demand-3-13682.html
oya tibbata wedi wenne ne ban wedikarama ganna ekek netiyena ganatath denna beruwa inne
Premio is 9.1m now. 
No body is going to buy except the richest few.Even upper middle class won't buy for that kind of price.same goes for the used ones.
Of course machan! Not really worth.
For me it didn't worth even at 8 million. One of my friends bought one for 8.2 mil before budget and I was like WTF? for a economy car ?
Nobody's gonna buy an used Premio for a 8.2mil+, even if the unreg price shots up to 10mil
Nobody's gonna buy an used Premio for a 8.2mil+, even if the unreg price shots up to 10mil
Yeah that's the thing. You have better options for that price range. Even slightly used BMW 5 series or SUVs.
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