Import Tax Slashed By 50%

Sumiya · June 3, 2010

Hi Guys

do you think how long will it take "new stocks " to come into play ? that will come very late, even though they have

new stock they will never say it is as new stock,That time these prices are again risen up guys

Ans there is a definite possibility that fuel prices will go up soon as the information i got but not so sure

Thanks

Regards

sumith

Edited June 3, 2010 by Sumiya

harshansenadhir · June 3, 2010

Bugatti said:
What u lookinat...? 207..? 407...?

lol, was replying to a question asked about the new price of an Alto, so "agent" literaly meant A*W.

Not so fortunate to afford a BN Pug right now. Was looking for a reasonable 406 executive or GTX or a 307SW, and search continues.

harshansenadhir · June 3, 2010

Sumiya said:
Hi Guys
do you think how long will it take "new stocks " to come into play ? that will come very late, even though they have

new stock they will never say it is as new stock,That time these prices are again risen up guys

Thanks

Regards

sumith

it all depends on who had stocks on and who didn't get this news unofficially. One spokesperson from A*W said that they didn't have any stocks . Most of agents might've got lucky in this scenario except H*nd*i Lanka, coz they said they had some stocks on hand. Car sales and agents will bring the prices down aiming more volumes and this is something they wanted from Govt. due to the same reason.

lasi · June 3, 2010

Sumiya said:
Hi Guys
do you think how long will it take "new stocks " to come into play ? that will come very late, even though they have

new stock they will never say it is as new stock,That time these prices are again risen up guys

Thanks

Regards

sumith

You can check the documents related to the import. If they quote the same higher price for new vehicles, it's not us but them who loose money. Coz we demand a lower price.

Sumiya · June 3, 2010

lasi said:
You can check the documents related to the import. If they quote the same higher price for new vehicles, it's not us but them who loose money. Coz we demand a lower price.

Hi Dude

That is in short run only dude, when they dragging this procedure,buyers also dragging purchase ,that time things are changed and price increases ,still we are looses , they buy new stock with lower price and sell them for higher prices later

Thanks

Regards

sumith

Gummybr · June 3, 2010

lasi said:

This is wrong, nowhere in the customs documents does it say that CESS is waived off for vehicles. The CESS was only waived off on the parts and electrical appliances.

gpmac · June 3, 2010

The 2010 model Hyundai Tucson is going for 6.6 mill now

the 2010 Hyundai Elantra is now 4.1 mill

both vehicles are petrol of course

the percentage reduction in the graph is not quite accurate

but there seem to be at least a 30% reduction in cost

Ralph · June 3, 2010

Gummybr said:
This is wrong, nowhere in the customs documents does it say that CESS is waived off for vehicles. The CESS was only waived off on the parts and electrical appliances.

Saturn · June 3, 2010

Pericles said:
Don't suppose either of you three have a source for this?
I, for one am delighted! I wanted a new monitor for graphics work, a major price cut would be awesome! Maybe I'll be able to afford a good one now

Hope this means there will be a good drop in camera/lens pricing...

Edited June 3, 2010 by Saturn

VWvortex · June 3, 2010

gpmac said:
The 2010 model Hyundai Tucson is going for 6.6 mill now
the 2010 Hyundai Elantra is now 4.1 mill

both vehicles are petrol of course

the percentage reduction in the graph is not quite accurate

but there seem to be at least a 30% reduction in cost

IMO the 2nd hand prices will be affected once the used unreg cars start coming into the country. The brand new prices would still be quite steep.

Pericles · June 3, 2010

Saturn said:
Hope this means there will be a good drop in camera/lens pricing...

What, you didn't see Dhanush's stuff for sale on Flickr? He's selling enough stuff to open a damn camera store! (or buy that 70-200 f2.8 IS II)

outlander · June 3, 2010

Hi Guys...

Heard tht this 50% cut off was done only for a short TERM ----

The perpose was to import LUXURY vehicles to GOV officials and for the permits ----

Will tht possible

What you guys think ....

Rebel · June 3, 2010

Sumiya said:
Hi Guys
I am feeling so sorry most of the people are dreaming to buy new cars etc etc , i don't know why they don't understand this,

they some how will charge in any other way the amount that they slashed ,Finally WE ARE LOOSERS the People who will win are POLITICIANS.I am not taking any politics here. but it is the reality.

For an Example THEY REDUCE VEHICLE TAX BY 50% AND INCREASE AUTO SPARE BY 100% in next few months.

Thanks

Regards

sumith

oww shaddap and enjoy the feeling of HOPE!

DevakaC · June 3, 2010

podilamaya said:

Podilamaya thanks for sharing but i quite dont get how this works. I was reading off the lines for Diesel Motor Cars 2500CC and above and the current tax structure shows a total tax percentage on CIF of 524% but adding up all lines I come up with only 213%.

Its quite acceptable the current structure has about 500% taxes on diesel vehicles above 2500CC but not too clear on how it sums up to 524%.

Hope you get what im saying.

SeanD · June 3, 2010

I'd like to see an actual link for that chart, as I'm getting it via e-mail with no source, or a variety of sources "ascribed" to it. I can't actually find it anywhere on any stockbrokers website (or anywhere else)?

outlander said:
Hi Guys...
Heard tht this 50% cut off was done only for a short TERM ----

The perpose was to import LUXURY vehicles to GOV officials and for the permits ----

Will tht possible

What you guys think ....

Come on man, what is with all the negative vibes here? And why does everyone try and shout down when something good happens in the country (not talking about you, Outlander). Are they that averse to change?

If the govt wants to bring down luxury vehicles with permits (which they have been doing for years, tax free...) then they will do it. No need to go through all the hassle of revising taxes and what not.

These changes have been a long time coming, even though the public only found out about it in the last couple of months. They are in line with what was recommended by the President's taxation committee. If they are only short term then tough luck, but lets not just create speculation without any basis in fact.

L board · June 4, 2010

SeanD said:
I'd like to see an actual link for that chart, as I'm getting it via e-mail with no source, or a variety of sources "ascribed" to it. I can't actually find it anywhere on any stockbrokers website (or anywhere else)?
Come on man, what is with all the negative vibes here? And why does everyone try and shout down when something good happens in the country (not talking about you, Outlander). Are they that averse to change?

If the govt wants to bring down luxury vehicles with permits (which they have been doing for years, tax free...) then they will do it. No need to go through all the hassle of revising taxes and what not.

These changes have been a long time coming, even though the public only found out about it in the last couple of months. They are in line with what was recommended by the President's taxation committee. If they are only short term then tough luck, but lets not just create speculation without any basis in fact.

Well there are a few who blame the govt for everything whether good or bad. When there is nothing to say they at least try to say that something is done for the benefit of govt personnel. That why there are some negative comments. When the govt increases duty they complain and when the govt decrease duty also they complain. They are called the "opposition"

VWvortex · June 4, 2010

SeanD said:
I'd like to see an actual link for that chart, as I'm getting it via e-mail with no source, or a variety of sources "ascribed" to it. I can't actually find it anywhere on any stockbrokers website (or anywhere else)?
Come on man, what is with all the negative vibes here? And why does everyone try and shout down when something good happens in the country (not talking about you, Outlander). Are they that averse to change?

If the govt wants to bring down luxury vehicles with permits (which they have been doing for years, tax free...) then they will do it. No need to go through all the hassle of revising taxes and what not.

These changes have been a long time coming, even though the public only found out about it in the last couple of months. They are in line with what was recommended by the President's taxation committee. If they are only short term then tough luck, but lets not just create speculation without any basis in fact.

Very correct!

Typical Sri lankan middle class mentality== NEGATIVE

Not purely the fault of the people, but its what the environment has done to them...even something that looks good on the surface is looked at and analysed in all possible means to reach a negtive explaination..

As SeanD mentioned in his post, this is a outcome of discussions the business community has had over a period of time. In fact PBJ promised our company these changes somewhere in Jan 2010.

SeanD · June 4, 2010

L board said:
Well there are a few who blame the govt for everything whether good or bad. When there is nothing to say they at least try to say that something is done for the benefit of govt personnel. That why there are some negative comments. When the govt increases duty they complain and when the govt decrease duty also they complain. They are called the "opposition"

Here's an article then for the "permanent opposition": http://www.island.lk/2010/06/04/news1.html

Muditha420 · June 4, 2010

hey guys apart from political riff raff...

if the prices of cabs comes down how much is a vigo gonna cost? last time i checked they were around 4.2mil

any ideas

Pericles · June 4, 2010

SeanD said:
Here's an article then for the "permanent opposition": http://www.island.lk/2010/06/04/news1.html

$50,000! WTF? Do they all want bulletproof BMs and Mercs?

Muditha420 · June 4, 2010

Pericles said:
$50,000! WTF? Do they all want bulletproof BMs and Mercs?

haha its a waste of a bullet if u ask me

esdeez · June 4, 2010

Well according to this article the politicians get away with around only 20% tax for vehicles: http://sundaytimes.lk/100530/News/nws_03.html

In that case there is no reason to revise the tax structure solely for the benefit of the government right?

samanp · June 4, 2010

janani said:

Looks like someone is really unhappy about the price drop (may be bought a car just before the price reduction). Only two posts and both shows same frustration

Edited June 4, 2010 by Pericles

VWvortex · June 4, 2010

samanp said:
Looks like someone is really unhappy about the price drop (may be bought a car just before the price reduction). Only two posts and both shows same frustration