Vehicle Import Restrictions to be Lifted!

[amsandun]

6 hours ago, matroska said:

So they want to pre-register without paying an advance - are they just checking the enthusiasm levels? What I can see if this goes ahead is the car-starved public will spend lavishly and we'll have another collapse? I'm not being philosophical because I already have a ride (my daily is 6 years old, it's not getting younger yes I'd like to upgrade)  - but the fact is, Sri Lanka didn't magically become an economic powerhouse did we? 

Having said that, even if this speculation drives the prices of used, abused, worn torn second hand cr@p that's still a welcome thing. I see absolute piles of garbage for sale demanding millions - it's just pathetic. 

I don't know about the prices in Japan but these prices before taxes are also feels ridiculous to me. A wigo for 6.9 Mil? Since we're comparing with before crisis (5 years apart), these prices maybe correct. My Vitz cost 3.7 mi with taxes back in 2018.

Ok the prices aside, what about the taxes? They only talk about 18% VAT. And if someone thinks that's it, they're gonna be surprised. Excise duty which was based on engine capacity (which also caused more under powered <1000cc cars to flood here), PAL, NBT, Luxury Tax will be included in my opinion unless there's a complete overhaul in tax structure. 

[Gummybr]

9 hours ago, amsandun said:

I don't know about the prices in Japan but these prices before taxes are also feels ridiculous to me. A wigo for 6.9 Mil? Since we're comparing with before crisis (5 years apart), these prices maybe correct. My Vitz cost 3.7 mi with taxes back in 2018.

Ok the prices aside, what about the taxes? They only talk about 18% VAT. And if someone thinks that's it, they're gonna be surprised. Excise duty which was based on engine capacity (which also caused more under powered <1000cc cars to flood here), PAL, NBT, Luxury Tax will be included in my opinion unless there's a complete overhaul in tax structure. 

The given prices does include the Excise duty, Luxury Tax and VAT paid at customs. The reason I believe they say +VAT is because of the uncertainty on how to charge the VAT on the sale as VAT has already been paid at customs and becomes taxed twice. In the era before the excise duty import VAT was less than the sales VAT and as such companies had to pay only the balance VAT to inland revenue department end of the month as they had already paid VAT at customs at a lower rate, so for anyone claiming VAT they got only the balance amount back not the full VAT. It all changed with the excise duty as VAT was deemed to be part of the excise duty when implemented.

[Ruslan]

My Thinkin is Gov should only allow Brand-new import through Agents and curtail importing Grey imports.. i know as Enthusiasts will go up in arms against it. but to curtail importing Garbage and exhausting reserves i don't see any other option. for the record I'm driving a 18 Year old barge. but I'm satisfied with it at least for now 😁