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Govt Sevents Permit Are Now Transferable


malla
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The way I see it, duty for permit vehicles went up cos that was one of the last few categories left where duty can be increased some more to find some much needed funds for the government, without angering the public, much. And to prevent any loss of revenue by potential decrease of such imports under these circumstances, they are encouraging the public to import vehicles through permits by making them transferable.

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Meanwhile, it is reported that as the finance minister, the president has taken the decision following a request by the owners of two leading finance companies.

Customs officials yesterday raided the two companies and inquired into loans granting for buying duty free vehicle permits, said the reports.

http://mirror.lk/news/3190-restriction-on-transfers-of-vehicle-permits-removed

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i have a feeling they might charge an additional fee to transfer them before 3 yrs

It seems that they will charge a transfer fee and a certain percentage of the tax needs to be paid. The same way when you buy a DPL car, you still have to pay a tax/duty component to the GOSL.

This is a nice ploy by the GOSL to tap in to the hunger of people who needs these 'permit' cars.

There is no such thing as a free lunch in Sri Lanka.

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Exactly they can catch all of them who sold/bought permits illegally before this came into practice

Who is the "they" RMV? Customs?

Also how will "they" catch the persons who bought or sold permits? If I sold a permit, all I have to do is, now, get the "transfer" done legally. Ditto if I bought a permit.

Edited by Dr G
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I meant the price !

well to catch all the crooks who sold their permits?

Why would the price of vehiles go up? If there is a more supply of vehicles, more competition, the price should come down. That is true logically, while I realize logic may not hold in Sri Lanka. (Where one sees advertisments for Brand New, 1995 automobiles.)

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If there is a tax portion (full or partial) to e paid when transferring, then price of permit will come down or even be 0. So it becomes a good deal. Those who are given the permit can enjoy the vehicle (which is the reason for the permit) and will not make money from it.

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If there is a tax portion (full or partial) to e paid when transferring, then price of permit will come down or even be 0. So it becomes a good deal. Those who are given the permit can enjoy the vehicle (which is the reason for the permit) and will not make money from it.

Thank you for all the responses on this matter. Please don't consider me argumentative. I'm only asking, inquiring mind...

IF there is a tax portion to be paid when transferring , (depending on the percentage, of course) that would immediately negate the value of transferring before the three year limit. We would be back to the “power of attorney letters” and unofficial transfers!!

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IF there is a tax portion to be paid when transferring , (depending on the percentage, of course) that would immediately negate the value of transferring before the three year limit. We would be back to the “power of attorney letters” and unofficial transfers!!

You are forgetting one point here. Permits are given for govt servants to set off their low salaries and benefits (at least in theory). If the transfers are allowed for free, they will officially become a commodity, which is traded in the open market (right now they are traded on the black market). Now this could give rise to a few fundamental rights cases because it will be open discrimination against the general public who pay full tax. But if the transfer incurs a tax, then this problem wouldn't arise.

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