Friday, September 19, 2008, 3:39 GMT, ColomboPage News Desk, Sri Lanka.
Sept 19, Colombo: Sri Lanka Cabinet approved tax reductions to all locally assembled and manufactured cleaner fuel vehicles at yesterday's Cabinet meeting.
Minister of Environment and Natural Resources, Champika Ranawake has submitted the proposal seeking approval to implement a proposed excise duty structure to promote the importation of various types of clean fuel vehicles with effect from next year.
In addition the Minister has proposed a tax concession for the local industries for the assembly of cleaner fuel vehicles.
This tax reduction will be applied to all environmental friendly motor vehicles assembled and manufactured locally using local materials with a total value addition of 25%.
Sept 19, Colombo: Sri Lanka Cabinet approved tax reductions to all locally assembled and manufactured cleaner fuel vehicles at yesterday's Cabinet meeting.
Minister of Environment and Natural Resources, Champika Ranawake has submitted the proposal seeking approval to implement a proposed excise duty structure to promote the importation of various types of clean fuel vehicles with effect from next year.
In addition the Minister has proposed a tax concession for the local industries for the assembly of cleaner fuel vehicles.
This tax reduction will be applied to all environmental friendly motor vehicles assembled and manufactured locally using local materials with a total value addition of 25%.
