PM assures tax on vehicles below 1000cc will not affect LC

Prime Minister Ranil Wickremesinghe informed Parliament today that the tax imposed on vehicles below 1000cc will not affect Letters of Credit (LC) established on or before August 1st 2018 and cleared from Sri Lanka Customs on or before the 31st January 2019.

The Finance Ministry had announced last week that the duty on vehicles with an engine capacity below 1000cc had been increased.

The duty on non-hybrid vehicles with an engine capacity lower than 1000cc will be Rs 1.5 million.

The duty on a hybrid vehicle with an engine capacity lower than 1000cc will be Rs 1.25 million. (Colombo Gazette)

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