Vehicle permits for BOI enterprises
The duty free permit granted to migrant workers to import vehicles is now becoming a bone of contention among those to whom this was first introduced – investors.
At a time when the country was looking at attracting increasing amounts of investments to the country Sri Lanka introduced the tax free vehicle permit to Board of Investment (BOI) factories as an investment package.
Back then about two or three permits were provided to import duty free vehicles for company use, Manufacturers Association Secretary Dhammika Fernando told the Business Times.
He noted that today this facility is not available for the BOI companies and now since it is being extended to migrant workers the BOI companies too were seeking its revival.
“We want to revive it since they are allowing for the foreign workers and so why not the BOI companies?” he queried.
Following the introduction of the issuance of the vehicle permits to BOI companies; it was subsequently introduced to other sectors like the medical profession, engineers among others.
According to the recent circular issued by Foreign Employment Minister, migrant workers can import an electric vehicle through monies transmitted from May to December this year and this incentive scheme will apply to both four-wheeled and two-wheeled vehicles as well.
This is said to have been initiated with the hope to incentivise migrant workers to remit their monies using the legal and formal channels.
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