Jump to content
  • Welcome to AutoLanka

    :action-smiley-028: We found you speeding on AutoLanka Forums without any registration! If you want the best experience, please sign in. Safe driving! 

  • 0

Exchage Rate used for Luxury Tax; Selling Rate or Indicative Rate



Dear Friends

Central Bank publishes a three exchange rates daily. They are

1) Indicative Rate

2) Buying Rate

3) Selling Rate

Out of them what is the rate used for calculation of luxury tax. For an example, if the CIF value of a certain vehicle is Euro 18,187.00, then for today (05/02/2020)

The Indicative Rate is 1 Euro = LKR 200.2883

The Selling Rate is 1 Euro = LKR 203.5865

If the Luxury Tax is calculated using Indicative Rate, then Lux Tax will be (18,187 x 200.2883) - 3,500,000.00 = LKR 142,643.31

If the Luxury Tax is calculated using Selling Rate, then Lux Tax will be (18,187 x 203.5865) - 3,500,000.00 = LKR 202,627.67

Please let me know if you have any idea on this.

Link to comment
Share on other sites

4 answers to this question

Recommended Posts

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Answer this question...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.


AutoLanka Cars For Sale

Post Your Ad Free [Click Here]

  • Create New...