Sri Lanka’s vehicle importers want two categories as ‘Brand New’ and ‘Used’

February, 24, 2015

However much Sri Lanka’s vehicle importers have appealed to the Finance Minister to reduce the duties imposed on hybrid vehicles through the interim budget, the Minister has not heeded their requests, said Sri Lanka Motor Vehicle Importers’ Association president Indika Sampath Merinchige.

Merinchige told www.adaderanabiz.lk that the Minister has not responded to their requests for a waiver of around 50 per cent of the duties imposed through the interim budget on the import of hybrid vehicles on letters of credit before 29 January and hereafter to categorize vehicle imports as ‘Brand New’ and ‘Used’ since the Deprecation Table on vehicle imports has been abolished.

“Since the Deprecation Table has been done away with, the same duty is imposed whether a new or a used vehicle is imported. This can be considered as fulfilling a long standing request by companies importing brand new vehicles. This has inconvenienced those who import used vehicles,” added Indika Sampath Merinchige.

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