Import Tax Slashed By 50%

wrav003 · August 26, 2010

My Predictions

1) Goverment revenue will decrease from OCT 2010 -DEC 2010 (This is guranteed)

2) Goverment revenue will decrease from JAN 2011 - APR 2011 (As people will wait for more cuts in the 2011 mid year budget)

3) If they don't reduce the tax as stated in NOV 2010, some people will be left out with their DREAMS and also delay their new buy.

In conclusions;

1) This goverment official is a idiot. (bad for the goverment income for the next 6mths) atleast

2) Bad for all of us

3) Credibility of the goverment goes down the drain.

For me I will buy what ever I can afford and enjoy it rather waiting and getting dissapointed.

Skyline R33 · August 27, 2010

Well said Dilesh and also Say we assume there is another 25% tax reduction. Even when the tax was cut by 50% there was no significant change in prices except for some dealers and that was also a very small amount. When the tax is cut by 50% that 50% left over should add to the normal price of a vehicles pre-tax cut price. In reality if we check the numbers, there is barely any difference. May be a 10% less in some cases but nothing to get too excited about. I would say from the 50% passing on 40% to the consumer is not hard but the car sales people and every other personal importer who is importing vehicles are making it expensive. The reasons like Jap Yen has appreciated, some models have gone up due to SL demand, etc are pure BS. I would say they are pocketing most of it and making some great $$$ out oof this. I agree that the importers and car sales people have a tedious job to bring the vehicle to SL and the risks they face but I think it is totally unfair to just demand any amount they want. Some people AFAIK are demanding 6-7 lacks profit in one vehicle. That is the amount which is supposed to be the surplus from the tax cut and when the third man pockets it the consumer will not get the benefit.

If the GOSL really want to reduce prices they should

1) Make the tax system of importing a vehicle clear (VAT, methods of calculating etc) - I personally wanted to import a diesel vehicle and gave up and started to look for a local one because there is no clear definition of anything. I have read every single post in this thread and gone through all other member calculations (Thanks firedragon your numbers were pretty close) and there are so many unclear areas. I don't wanna try to import a vehicle in a certain budget and later end up paying lacks beyond my budget. (I can remember the member who paid 6 lacks more for his van). The customs website is the crappiest site I have ever come across. You can't find anything and if you do so what ever you found dosen't make any sense. I would say all members would agree with this point.

2) Implement a strategy/policy to prevent price fixing - Since every one who imports a car randomly decides the price the government should enforce some sort of pricing system to stop this. I think some big govt officers get a share of what ever is made and this is why this is so complicated.

3) Address the public regarding this issue to make it clear what is planned and what will the policy be like - Some joker like PBJ will tell random things to the media and the people as usual wait wait and wait with hopes and dreams to own a vehicle and finally to be dissapointed.

I'm not talking for people who are driving big SUVs or luxuary cars, they can afford them at any cost. If the government want's improve the life style of middle class people some thing should be done. As one member explained before, govt is getting a large sum as revenue through tax, revenue licence, petrol, insurance etc so they should do some thing. After all cars/transport is part of a basic need for any family and atleast one decent car per average family should be made affordable. I know many who buy a car in SL have saved for a vehicle making many sacrifices and many others are dreaming about owning a vehicle one day and taking advantage of these innocent people is not acceptable.

Edited August 27, 2010 by Skyline R33

wrav003 · August 27, 2010

Dilesh said:
I really dont see a point in you guys going "taxes are going down", "no taxes are going up" "nono taxes are going down"...
The person who made the statement really doesnt make a difference.. our country at present has no sense of accountability. Anyone can make a statement immaterial of its truth and not be worried about having to face repercussion.

Example1: Health minister "people die in our country. we cant stop that. Why are we being blamed for that? the reason people get dengue is cos girls wear short skirts and expose skin for mosquitoes to bite"

Example2: president "I cant afford to give 10k pay hikes for govt employees.. i wont like.. But i will surely give a 2.5k rise in my next budget".. so where was it?

Example3: some police officer on a radio program (as pointed out by someone on the forum) "a 70% tint is allowed on the front" (or something to that nature...

So lesson: Don't go listening to self proclaimed 'experts' on taxation in SL; you're wasting your time. Tax cuts will come if (when) they come.. jsut dont hold your breath for it.

+2 True That....

D-Devil · August 27, 2010

Guys, No one has an idea on the taxes for the vehicles?? I just found this image, hope it helps. And also,what will be the tax for Nissan bluebird, Subaru Legacy B4, VW jetta etc? cos iv been seeing these vehicles sold for around 40-50 mark.... any thoughts?

Skyline R33 · August 27, 2010

D-Devil said:
Guys, No one has an idea on the taxes for the vehicles?? I just found this image, hope it helps. And also,what will be the tax for Nissan bluebird, Subaru Legacy B4, VW jetta etc? cos iv been seeing these vehicles sold for around 40-50 mark.... any thoughts?

Well, This table is quite hard to understand. I know the first 4 columns are in Yen. Where do we get the final price from?

D-Devil · August 27, 2010

Skyline R33 said:
Well, This table is quite hard to understand. I know the first 4 columns are in Yen. Where do we get the final price from?

Ya , you are right about the yen values.

According to this image, the colored columns go as

70% = 3 - 3 1/2 year old vehicles,

75% = 2 - 3 year old vehicles,

80% = 1 - 2 year old vehicles,

90% = 1 - 1/2 year old vehicles.

According to the source, its the actual tax(SL price) for a base model of that vehicle.

Edited August 27, 2010 by D-Devil

lasi · February 10, 2011

Do you guys know that import duty on Hybrid vehicles has again been reduced by 50%?

bat · February 10, 2011

that mean tax reduce to 15%...........

lasi · February 10, 2011

On 2/10/2011 at 5:34 AM, bat said:

that mean tax reduce to 15%...........

yes

MasterDon · February 10, 2011

harshansenadhir · February 10, 2011

On 2/10/2011 at 5:52 AM, MasterDon said:

yeah it's THAT thread again..

heavyD · February 10, 2011

Yay yay whoopee... go hybrids. Now reduce tax on regular cars so some of us can afford a nice car someday.

bat · February 13, 2011

even government reduce the hybrid tax,our sri lankan people do not reduce the car price.I add in auto lanka that one person trying to sell his insight in black market.mentioned as a Rs. 350000/= by mistake.surely he intended to sell it at Rs. 3500000/= refer the following link.his phone no also available.

My link

MrCat · February 13, 2011

On 2/13/2011 at 12:19 PM, bat said:

even government reduce the hybrid tax,our sri lankan people do not reduce the car price.I add in auto lanka that one person trying to sell his insight in black market.mentioned as a Rs. 350000/= by mistake.surely he intended to sell it at Rs. 3500000/= refer the following link.his phone no also available.

My link

Well the tax might be reduced, but it`s not Zero isn't it? Insight(2009) goes for around 21,000 dollars in Japan, so I dont see why Rs.3.5 million in SL is a price to speculate about. Besides, how come its selling in the "black market" when the person has properly advertised the car on a web site?

The Don · February 13, 2011

Well I hope the agents will put some infrastructure in place for Hybrids for our people to take advantage of duty reductions. Else all of these reductions are pointless.

M navy · February 13, 2011

On 2/10/2011 at 6:38 AM, Big_D said:

Yay yay whoopee... go hybrids. Now reduce tax on regular cars so some of us can afford a nice car someday.

:alc:

xXx · February 13, 2011

On 2/13/2011 at 12:19 PM, bat said:

even government reduce the hybrid tax,our sri lankan people do not reduce the car price.I add in auto lanka that one person trying to sell his insight in black market.mentioned as a Rs. 350000/= by mistake.surely he intended to sell it at Rs. 3500000/= refer the following link.his phone no also available.

My link

oi stop talking from your ass. How do you know at weather this car was subject to the newly reduced duty structure at the point of clearing from customs? Plus what do you mean by selling in the black market? If you think this car is prices higher that the market value just don't buy it. I'm sure this is not the only insight available in SL. You do know buying a car is not like having to buy coconuts, there are other alternatives.

Phill · February 14, 2011

On 2/13/2011 at 12:19 PM, bat said:

even government reduce the hybrid tax,our sri lankan people do not reduce the car price.I add in auto lanka that one person trying to sell his insight in black market.mentioned as a Rs. 350000/= by mistake.surely he intended to sell it at Rs. 3500000/= refer the following link.his phone no also available.

My link

This is not even the LX version (LX=EX version in US). This can be another typical market manipulation. You can import one for one million less easily.

bat · February 14, 2011

total cost for this car is less than 3 million........

Tilak · April 25, 2011

There are rumors going on about increasing the import tax of vehicles. Did not want to cerate a new topic as it is not confirmed. Apperantly Customs are not releasing vehicles today & this will be applicable to hybrids as well.

Crosswind · April 25, 2011

On 4/25/2011 at 4:54 AM, Tilak said:

There are rumors going on about increasing the import tax of vehicles. Did not want to cerate a new topic as it is not confirmed. Apperantly Customs are not releasing vehicles today & this will be applicable to hybrids as well.

are you trying to sell your car today?

Gayan Weerakoon · April 25, 2011

On 4/25/2011 at 4:54 AM, Tilak said:

There are rumors going on about increasing the import tax of vehicles. Did not want to cerate a new topic as it is not confirmed. Apperantly Customs are not releasing vehicles today & this will be applicable to hybrids as well.

Confirmed!!!!