No vehicle tax changes in 2017 budget
View(s):Vehicle taxes imposed through the 2016 budget will not be changed in the coming 2017 budget. The current taxes on vehicle imports will remain as it is for two years. President of Vehicle Importers Association of Lanka (VIAL) Indika Sampath Merinchige told a media conference in Colombo on Wednesday that this assurance was given by Finance Minister Ravi Karunanayake at a meeting with his association members recently.Therefore other than rectifying any irregularities that may exist in the valuation system of vehicles, it is unlikely that there will be any tax revision on vehicle imports in the forthcoming budget, he said.
He noted that that speculation that there will be a reduction in taxes on vehicle imports by the government was baseless Prospective buyers should not be in a state of confusion or uncertainty on the current vehicle prices, he said adding that vehicle prices will not come down after the presentation of the 2017 budget. However he said, in an unrelated development, small vehicles upto 1000 cc are likely to rise by Rs. 200,000 to Rs. 300,000 per unit owing to the appreciation of the Japanese Yen.(Bandula)