Sep 23, 2017 16:05 PM GMT+0530 | 0 Comment(s)
ECONOMYNEXT - The government is likely to reduce the prohibitive taxes on small cars and offer greater incentives for electric vehicles in the first budget to be unveiled by minister Mangala Samaraweera in November.
Minister Samaraweera has already promised a "leaner, greener" budget ahead of possible local council elections that could be held as early as January or at least before the end of the first quarter of 2018.
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"Any concessions for electric cars will be aimed at utilitarian vehicles and not the expensive electric sports models," an official said.
Several new car importers had already begun offering hefty discounts on small 800 cc engine capacity cars in the hope that there will be a drastic cut in taxes for this segment of vehicles.
The introduction of a new Nissan Leaf electric car has seen a sharp drop in the second hand value of these vehicles in the local market and dealers noted a sharp decline in the demand.
Only 10 Nissan Leaf cars were registered in August this year, compared to 44 a year ago. From a high of 459 Leaf cars in January 2015, it has now dropped to about 10 a month despite the tax advantage for this category.
Last month, minister Samaraweera slashed tax on single cab vehicles by 300,000 rupees and also lifted the 100 percent ad volarem tax on small motorcycles, mainly those imported directly from Japan.
- http://www.economynext.com/Smaller_...ely_to_be_cheaper_after_budget-3-8788-10.html
ECONOMYNEXT - The government is likely to reduce the prohibitive taxes on small cars and offer greater incentives for electric vehicles in the first budget to be unveiled by minister Mangala Samaraweera in November.
Minister Samaraweera has already promised a "leaner, greener" budget ahead of possible local council elections that could be held as early as January or at least before the end of the first quarter of 2018.
................
"Any concessions for electric cars will be aimed at utilitarian vehicles and not the expensive electric sports models," an official said.
Several new car importers had already begun offering hefty discounts on small 800 cc engine capacity cars in the hope that there will be a drastic cut in taxes for this segment of vehicles.
The introduction of a new Nissan Leaf electric car has seen a sharp drop in the second hand value of these vehicles in the local market and dealers noted a sharp decline in the demand.
Only 10 Nissan Leaf cars were registered in August this year, compared to 44 a year ago. From a high of 459 Leaf cars in January 2015, it has now dropped to about 10 a month despite the tax advantage for this category.
Last month, minister Samaraweera slashed tax on single cab vehicles by 300,000 rupees and also lifted the 100 percent ad volarem tax on small motorcycles, mainly those imported directly from Japan.
- http://www.economynext.com/Smaller_...ely_to_be_cheaper_after_budget-3-8788-10.html
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