Surcharge on used and modified vehicles removed, prices expected to drop

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Mar 14, 2026
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Prices of both used and modified vehicles are expected to drop with the government's decision to remove the surcharge of 50 per cent imposed on vehicles

In a rescinding gazette notification issued by President Anura Kumara Dissanayake in his capacity as Minister of Finance, Planning and Economic Development, the surcharge is to be removed from April. Earlier, it was extended till December 31.

The gazette notification on surcharge was introduced in January last year effective until end of last year and later extended until the end of this year.

Due to imposing a surcharge of fifty per cent in recent times, the prices of used and modified vehicles remained high in the local market. Sources in the motor importing circles said that with the removal surcharge, prices of new vehicles are also expected to see an impact as well.