Sri Lanka government eyes Indian vehicle marketing company not passing down tax concessions

February, 11, 2015

The government’s attention has been drawn towards a particular Indian motor vehicle marketing entity which has not reduced its vehicle prices in proportion to the tax concessions granted through the interim budget.

Finance Minister Ravi Karunanayake told the media today (11 February) that though the prices of its vehicles have to be reduced by some Rs. 230,000 a particular Indian company has reduced its prices only by about Rs. 30,000 and that he has requested the company to rectify this anomaly.

Minister Karunanayake added that if this company fails to rectify the pricing issue then the government is prepared to take necessary action against it.

He pointed out that the consumers cannot be allowed to be cheated like this.

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.