Errant Indian car marketing company MD meets Sri Lanka’s Finance Minister

February, 12, 2015

After he revealed that an Indian vehicle marketing company is not passing the full tax concession introduced by the new government’s interim budget to its clients, the Managing Director of this particular company met him this morning, said the Finance Minister.

Finance Minister Ravi Karunanayake added that the particular Managing Director had agreed to pass the full tax concession to the vehicle buyers and also that he had promised if there has been any shortcomings he would inquire into them.

Finance Minister Karunanayake had said yesterday (11 February) that since it has been revealed that an Indian vehicle marketing company is not passing the full tax concession introduced by the new government’s interim budget to its buyers, the government would not hesitate to take action against the company.

The tax on motor vehicles below 1,000 cc engine capacity has been reduced by 15 per cent through the new government’s interim budget.