Govt increases taxes on small vehicles

News

The taxes of vehicles below 1000cc category have been increased with immediate effect from 01 August following a gazette notification signed by Finanace Minister Mangala Samaraweera to amend relavant regulations, the Finance Ministry said today.

In keeping up with the amended regulations, a unit tax of 1.5 million rupees will be taxed for a motor car below 1000cc while a unit tax of 1.25 million rupees will be taxed for an electric car below 1000cc. These new taxes will not be applied to vehicles that opened Letter of Credit before 01 August 2018 and will be cleared before 31 January 2019.

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