Car Sale Ownera Telling 30% Tax Increase

[Magnum]

Thanks rumesh.

That sounds like its better to keep additional 2-3 lacks on hand.

You haven't bought this car already right?

I heard there are couple of car sellers who are selling vehicles for old price, that is the price before the yen went up, so you might be able to find the car you are looking for in SL itself and it'll take off the risk of paying extra tax.

[esanda007]

Direct importers have stopped importing. Last ship before budget will leave japan on 11th. So no more personal lc opening and importing possible. Sky high prices from damn car sale owners are the only help.

[priyanka]

It was the same government that reduced the customs values of the big SUV s ( after increasing the hybrid taxes ).

In March the government reduced the customs value from yen 2.9 million to 2.5 million for Montero.

The price went down by SLR 1.7 million.

For the Prado from 36000 usd in to 3.3 million yen.

So the prices came down by nearly 5 million.

Same happened to discovery etc.

But now they do the reverse after allowing car sellers have a good stock of SUVs

Edited October 6, 2015 by priyanka

[tcfern1]

Is there a rumor that taxes going to increase from midnight today

[Magnum]

I got these figures from AdaDerana

[fiat fan]

Shit.. that is bad.. wbu the euros and indian stuff?

[Magnum]

Shit.. that is bad.. wbu the euros and indian stuff?

Its pretty good for me, Hiace tax has gone up a lot

[matroska]

eh have they forgotten Honda? Vezel? fit? Grace?

Edited October 7, 2015 by matroska

[Magnum]

I think the duty increase is for all vehicles not only these ones, I guess at the moment they have figures for only these vehicles

the article says:

Commenting on this, Sri Lanka Motor Vehicle Importers’ Association president Indika Sampath Merinchige said that the prices of these vehicles would increase in accordance with these Customs duty increases.

He also added that due to the duty increase on Japanese vehicles, the prices of Indian manufactured vehicles too would increase.

http://bizenglish.adaderana.lk/exclusive-duty-increase-on-japanese-cars-hit-the-sky-aqua-up-by-7-lakhs-prius-by-11-20-lakhs/

[c1nder]

Have they updated the Customs Estimated Value tables or increased tax %? Looks like the value tables right?

[matroska]

head over to the customs website they have updated with a few pdfs

this is for toyota

http://www.customs.gov.lk/news/fob6.pdf

[matroska]

Have they updated the Customs Estimated Value tables or increased tax %? Looks like the value tables right?

theyve simply updated the FOB value tables ....

people have probably calculated the increase based on that the yen rate and the tax percentage

They have not yet updated for either Suzuki, Honda or Nissan.

Edited October 7, 2015 by matroska

[iRage]

Wait...i am confused...how did they come up with these values ? Before their valuations were close to what the MSRP was for the model in Japan, now it is significantly higher than what the MSRP is.

EDIT: Hmm...I guess if you factor in reg/de-reg costs, delivery to supplier, etc...it is close to what they have stated....(but that also includes Japanese sales tax)

Edited October 7, 2015 by iRage

[Magnum]

head over to the customs website they have updated with a few pdfs

this is for toyota

http://www.customs.gov.lk/news/fob6.pdf

I'm confused, the "new value" in the table I have posted matches the FOB value in the PDF you have posted, Does this mean they have just changed the value of vehicle they'll be charging the tax on rather than increasing the tax percentage?

[matroska]

yes. I think Tax % will be changed only after the budget but as it is theyve just updated (increased) the FOB values.

[Magnum]

I hope they will do this adjustments for the Indian vehicles as well, specially three wheels

[B2Spirit]

Wait...i am confused...how did they come up with these values ? Before their valuations were close to what the MSRP was for the model in Japan, now it is significantly higher than what the MSRP is.

EDIT: Hmm...I guess if you factor in reg/de-reg costs, delivery to supplier, etc...it is close to what they have stated....(but that also includes Japanese sales tax)

Very simple, defies common sense and outrageous.

They went to the manufacturer site and took the value of the highest grade for each model.

Example Aqua - the 2,377,962.00 value quoted is the exact value of Aqua GS on toyota website.

Prius - 3,497,237.00 is almost same as the highest grade "G Touring Leather"

Edited October 7, 2015 by B2Spirit

[iRage]

Very simple, defies common sense and outrageous.

They went to the manufacturer site and took the value of the highest grade for each model.

Example Aqua - the 2,377,962.00 value quoted is the exact value of Aqua GS on toyota website.

Prius - 3,497,237.00 is almost same as the highest grade "G Touring Leather"

I checked the price of the Gs when I was posting the earlier comment but that table says Aqua G not G's...LOL..I guess they really don't know the difference.

[B2Spirit]

the only ones profiting out of this will be the car sales, politicians and govt.

As usual the general public gets the short end of the stick.

[sasika]

No tax increment yet, but the FOB values have been re-done so as to avoid the undervaluing of vehicles.

[Magnum]

I checked the price of the Gs when I was posting the earlier comment but that table says Aqua G not G's...LOL..I guess they really don't know the difference.

They have taken the price of the G Touring Leather selection grade which is the highest priced

Very simple, defies common sense and outrageous.

They went to the manufacturer site and took the value of the highest grade for each model.

Example Aqua - the 2,377,962.00 value quoted is the exact value of Aqua GS on toyota website.

Prius - 3,497,237.00 is almost same as the highest grade "G Touring Leather"

Yep you're right, I just took a look at Toyota's site and the values are roughly the same

[xXx]

the only ones profiting out of this will be the car sales, politicians and govt.

As usual the general public gets the short end of the stick.

Well there were quite a few Autolankans wanting/hoping for a tax increase as a solution to the congestion problem . Consider their wish granted LMAO.....

[iRage]

To me the most worrying fact about this whole price increase is the realization of how bad most people seem to be at reading data from a table !

The new valuation and tax increment table from that news site seems to be going rampant on the usual FB auto groups and how people seem to be understanding the data in the table is quite saddening. I hope they take this extra tax Rs and put it in to reforming the education system....

[iRage]

Yep you're right, I just took a look at Toyota's site and the values are roughly the same

but still those are the base MSRPs for that grade with the 8% sales tax isn't it ? Previously it was the MSRP without the sales tax.

So when the sales tax in Japan becomes 10% Sri Lankans get hit again on the valuation...Heck..if Japan goes and reaches the 15% needed sales tax target it would be just awesome for SL ! Hmm..maybe this is just another creation of work to undo in a few weeks

[Magnum]

but still those are the base MSRPs for that grade with the 8% sales tax isn't it ? Previously it was the MSRP without the sales tax.

So when the sales tax in Japan becomes 10% Sri Lankans get hit again on the valuation...Heck..if Japan goes and reaches the 15% needed sales tax target it would be just awesome for SL ! Hmm..maybe this is just another creation of work to undo in a few weeks

And those are the prices for the highest grade like Prius G Touring, Hiace Super GL. I wonder if the customs has a separate values for lower grade vehicles.

The only vehicle I noticed which had different values for different grades was the Premio, cuz it has different chassis number for each grades