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Vehicle Import Duty (All Categories) Increased Today!

sampath_fer

By sampath_fer
in News & Updates

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k9master Newbie

k9master

Posted
Posted

Out of a whole 59 vehicles posted on AL today only 1 is a Hybrid... That also is a Prius 3G going for the highest offer, without a price specified...

Guess sellers are smart... and no difference between them and kalu kada mudalalis who stock up rice and sugar and milk powder awaiting a price hike...

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The Stig
The Stig

Actually IMO its not that bad, the whole almost tax less hybrid purchases were going totally out of control. I mean it makes sense now, even hybrids are now taxed by their displacement. Not forgiven

MasterDon
MasterDon

Hooray!!!...This is the happiest day of my life!

Gayan Weerakoon
Gayan Weerakoon

Basically the government has increased taxes on the "Common mans" cars.......

Ruslan Enthusiast

Ruslan

Posted
Posted
  On 4/25/2011 at 4:05 PM, rangerover said:

I'm keen to how the two year limit will be imposed on vehicles already being ordered. Based on previous policies adapted, they might exempt this new law for vehicles that have already being shipped and issued B/L's for or opened L/C's for. Any feedback on this?

As a rule of thumb i stick to the second hand market. More predictable. But thats because i cant afford brand new euro's or the risk of hasty government policies at the moment! :D

Those who opened L/Cs already wont affect the new 2 Year law. (That's what i herd from an Importer) :unsure:

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The Stig Newbie

The Stig

Posted
Posted
  On 4/25/2011 at 4:38 PM, k9master said:

Out of a whole 59 vehicles posted on AL today only 1 is a Hybrid... That also is a Prius 3G going for the highest offer, without a price specified...

Guess sellers are smart... and no difference between them and kalu kada mudalalis who stock up rice and sugar and milk powder awaiting a price hike...

Well obviously, they'll keep their current stocks for another couple of weeks and sell it for the price of a newly taxed car.There might be a sudden shortage of cars for sometime after the tax increment.

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dilku Newbie

dilku

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  On 4/25/2011 at 3:23 PM, rez said:

It's a real Tsunami for me !!! When the car is at the docks waiting to be cleared today....now exceeds my budget and trying to find the extra cash to clear the mess....no words to shout....How come these morons can do it suddenly !!! Guess they have already filled their ass's with gold !!!

: :violent-smiley-030:

Time has come for new car buyers to queue up with MICRO and use their balance money to buy 10 perch block of land. :action-smiley-060:

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harshansenadhir Apprentice

harshansenadhir

Posted
Posted
  On 4/26/2011 at 3:02 AM, jdnet said:

ahhh our resident retard is back.... Where have you been all these days?

:D Micro or not, this time he had a point and what he said is acceptable than busting about five six millions of rupees on used junk. Oh shoot, I got it wrong, he aint smart but typing the words came out of his boss's mouth. :P

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jdnet Newbie

jdnet

Posted
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  On 4/26/2011 at 4:53 AM, harshansenadhir said:

:D Micro or not, this time he had a point and what he said is acceptable than busting about five six millions of rupees on used junk. Oh shoot, I got it wrong, he aint smart but typing the words came out of his boss's mouth. :P

lol

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AbeysinghE Newbie

AbeysinghE

Posted
Posted

I think this is a very big tricky game played by government with the people.They reduced the import duties,the ordinary people's immediate reaction was government did it to encourage people to buy vehicles.Now the mission is over.They have opened enough tax files for the vehicle purchases on that time.Now the time to increase it again.. :angry::angry-smiley-024:

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The Stig Newbie

The Stig

Posted
Posted
  On 4/26/2011 at 9:17 AM, AbeysinghE said:

I think this is a very big tricky game played by government with the people.They reduced the import duties,the ordinary people's immediate reaction was government did it to encourage people to buy vehicles.Now the mission is over.They have opened enough tax files for the vehicle purchases on that time.Now the time to increase it again.. :angry::angry-smiley-024:

Actually IMO its not that bad, the whole almost tax less hybrid purchases were going totally out of control.

I mean it makes sense now, even hybrids are now taxed by their displacement. Not forgiven solely because they have a fancy "Hybrid" badge glued on somewhere. I mean something like a Cayenne getting 30% tax while the other similar size SUV's getting 300% is just ridiculous, the diesel version does better than the hybrid on fuel so what’s the point ? Its given a common pardon because it has a hybrid badge ? Where is the sanity in that ?

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The Stig Newbie

The Stig

Posted
Posted
  On 4/27/2011 at 3:24 AM, shanaka77 said:

hi are you sure about that?

coz my car arrived in port on 22nd night

and my agents said i will have to pay extra 2 lakhs?

Does the new duty apply to my car?

If your car was not inspected by customs before the tax increment chances are that you will be fined under the new tax scheme, tough luck :(

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The Don Newbie

The Don

Posted
Posted

Who would want to do business with a country like this with no stable economic policy ! The message we're sending out is absolutely the wrong one when we're trying to attract investors ! This is so absolutely ridiculous !

All this benefits is the car dealers who bought down vehicles under the previous tax regime and is now set for a big windfall. The normal middle class man whose budget is already stretched would now struggle even more to afford a decent vehicle, which I think is decent reward for his or her's hard work and the taxes they have paid and their contribution to the economy !

On a different note in the past when LC's have been raised usually the tax regime under which they were raised have applied.

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AbeysinghE Newbie

AbeysinghE

Posted
Posted
  On 4/26/2011 at 2:00 PM, The Stig said:

Actually IMO its not that bad, the whole almost tax less hybrid purchases were going totally out of control.

I mean it makes sense now, even hybrids are now taxed by their displacement. Not forgiven solely because they have a fancy "Hybrid" badge glued on somewhere. I mean something like a Cayenne getting 30% tax while the other similar size SUV's getting 300% is just ridiculous, the diesel version does better than the hybrid on fuel so what’s the point ? Its given a common pardon because it has a hybrid badge ? Where is the sanity in that ?

I don't want to justify the use of hybrids or anything.What i say is now the car sales will get the advantage out of this.People who were dreaming to go for a vehicle will be in trouble :( their dream will go further. I don't see any development or any logic on this. :(

Really i don't know why some people like to see the other people's dreams breaking like glasses :(

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The Stig Newbie

The Stig

Posted
Posted
  On 4/27/2011 at 5:36 AM, AbeysinghE said:

I don't want to justify the use of hybrids or anything.What i say is now the car sales will get the advantage out of this.People who were dreaming to go for a vehicle will be in trouble :( their dream will go further. I don't see any development or any logic on this. :(

Really i don't know why some people like to see the other people's dreams breaking like glasses :(

No offense aimed at you or people who are bringing in new cars, its just that i think its not fair that all hybrids are taxed the same way.I guess that's settled now :alc:

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AbeysinghE Newbie

AbeysinghE

Posted
Posted
  On 4/27/2011 at 10:00 AM, The Stig said:

No offense aimed at you or people who are bringing in new cars, its just that i think its not fair that all hybrids are taxed the same way.I guess that's settled now :alc:

:rolleyes:

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AbeysinghE Newbie

AbeysinghE

Posted
Posted
  On 4/28/2011 at 6:15 AM, susasl said:

My Prius (2G) now at the port.Earlier Total tax was around Rs 7.5 Lacks.Anyone has idea about new Tax amount for Hybrid? Most probably I have to find money within next week.

:angry-smiley-024:

Call customs information centre 0112342014 :rolleyes:

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The Stig Newbie

The Stig

Posted
Posted
  On 4/28/2011 at 6:15 AM, susasl said:

My Prius (2G) now at the port.Earlier Total tax was around Rs 7.5 Lacks.Anyone has idea about new Tax amount for Hybrid? Most probably I have to find money within next week.

:angry-smiley-024:

  Quote

On petrol cars with standard engines with capacities below 1,000 cubic centimeters the effective total tax rate will go up from the current 95 percent to 120 percent.

Between 1000 to 1,600 cc the effective rate will go up from 119 to 128 percent. On three wheelers the effective rate will go up from 38 percent to 50 percent.

On hybrid cars with engines below 2,000 cubic centimeters total duties will go up from 38 percent close to 50 percent.

Deputy director general of customs Ajantha Dias said an excise duty was raised by 8.0 percent on small hybrids but it will take up the total duties by a larger amount when added together.

On hybrids between 2,000 to 3000 cc duty will go up close to 75 percent and above 3,000 cc to 100 percent.

(Source- http://www.lankabusinessonline.com/fullstory.php?nid=1318067502)

The customs website isnt updated yet

http://www.customs.gov.lk/hybrid.htm

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Shehan_WCC Newbie

Shehan_WCC

Posted
Posted

The car sales will obviously have a price increase

with something more for them,more than the taxed value thats how it is always .

Nomatter what consumers buy.So the sales person sets the rules.

politics at its best. No facility to even sew properly

Juts my opinion :)

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Rohnd Newbie

Rohnd

Posted
Posted

The Country has no policy. Working on petty cash flow and tax income!

The Vehicle policy should be a National Policy.

Now Vehicle prices have become like Fuel,Gas & Milk Powder prices, changing rapidly for

the sake of suppliers/vendors.

Poor show by Finance & Policy Implemetation Ministry higher officials. The old officials must

retire at least at the age of 60. :huh:

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