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Rs 9 million-worth duty-free vehicle for every MP
View(s):MPs elected to this Parliament will be entitled to import vehicles costing around Rs 9 million, using the duty-free permits issued to them, according to the order by Finance Minister Ravi Karunanayake, under the Excise (Special Provisions) Act.
The vehicle, if purchased by paying duty, would cost nearly threefold more.
Parliament, in addition, will take up for debate this and several other Orders by the Finance Minister on Wednesday.
The Finance Minister, earlier this year, set the upper limit of the Cost Insurance Freight (CIF) value for the vehicles to be imported by MPs of the 8th Parliament, under a permit issued by the Ministry of Parliamentary Affairs, at US$ 62,500, or Euros 55,000 or Japanese Yen 7 million, which is a little over Rs 9 million.
Exemptions from excise duty payments are also to be granted to motor vehicles and articles imported under various agreements, and MoUs entered into by the Government with overseas organisations and foreign governments.