Tourism industry urges reduced vehicle taxes
The Government is looking at ways of ensuring that new taxes imposed on vehicle imports does not impact the tourism industry.
Recently with the ban on vehicle imports lifted the tourism industry has been engaged in importing a number of vehicles for the industry’s sustenance.
However, little did they know that after opening their Letters of Credit (LCs) they would be compelled to pay a higher tax, industry sources pointed out.
The new taxes were introduced soon after the LCs were opened and the industry has pointed out that this is not fair.
It was noted that about 90 vehicles for the tourism industry have been imported costing around Rs.16 million which would now be increased with a further Rs.2.9 million in taxes that would raise the cost of the vehicle to around Rs.19 million.
In this respect, the industry has met with the authorities recently where they were assured that it would be taken up with the Finance Ministry.
Some vehicles have already arrived at the port and the industry points out that they hope the authorities come up with a solution soon as otherwise they would be compelled to pay demurrage charges as well.
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