Vehicle Import Taxes Reduced To 25% What Will This Do To The Market?

[actyon23]

My clearing agent said they haven't received the required information for Hybrid Tax deduction. But he did confirmed cars below 1500cc has gone down by at least 200k.

Can you guide me how to import the van i am interested from japan

at the moment it is with ORIENT trading and there selling price is less than 3000$ for nissan vanette yom 2006

[Watchman]

sorry mate, any person can change their own opinion. It is called democracy.

You better check with customs rates, you will be amazed how things have unfolded.

Some tax changes were not in the budget speech, ex:- cess/excise.

One of the best budgets ever.. This time they have considered private sector as well.

"democracy" lets you have your own opinion, but doesn't give you the right to spread un-truths.

If you knew so much about customs charges, why the hell did you open a fresh threads asking for it? Either you're a self-appointed guru, who doesn't know crap about cars except for the current price of a G-grade Axio and a EG8 vti, or some job-less troll. Either you come out looking all-fart, no show.

[AsankaAuto]

I just cleared an Axio 2007 last lap. After d budged tax has reduced by about 3 lacks.

[Sylvi]

I just cleared an Axio 2007 last lap. After d budged tax has reduced by about 3 lacks.

AsankaAuto,

Thanks for sharing your cost of Axio what you had imported.Will appreciate If possible as this is confidential if you can only Please share your Invoiced cost and was there any extra transferred.Or give only total CIF.

Sylvi Wijesinghe.

[wug]

I just cleared an Axio 2007 last lap. After d budged tax has reduced by about 3 lacks.

Can you tell us the total tax for Axio now...

[AsankaAuto]

Can you tell us the total tax for Axio now...

For a last lap Axio Tax would be within d range of Rs. 15,60,000-16,00,000 depends on taxable options and as u all know JPY/LKR exchange rate

[AsankaAuto]

AsankaAuto,

Thanks for sharing your cost of Axio what you had imported.Will appreciate If possible as this is confidential if you can only Please share your Invoiced cost and was there any extra transferred.Or give only total CIF.

Sylvi Wijesinghe.

Sorry Sylvi it is not appropriate to share such info in a forum but for ur consideration I'l giv a cue. I got this car a little higher price than commonly advertised CIF prices as the car was in very good condition, highly demanded colour and carefully used.

[SeanD]

One of the best budgets ever.. This time they have considered private sector as well.

You really haven't a clue have you? The benefits to the private sector are way offset by things like the gratuity transfer to the govt that they are requesting within 100 days. Majority of companies in Sri Lanka don't actually maintain that in hard cash, and the larger private sector companies will have to take a hit of billions. That in turn will hit the consumer. I don't know how you consider that the best budget ever? More like a budget made by someone who's "book smart and street stupid" (no need to mention names).

Only good thing I saw is something about no import duty on "branded items" (whatever that is supposed to mean...does that mean cars as well? )

[SeanD]

Sorry Sylvi it is not appropriate to share such info in a forum but for ur consideration I'l giv a cue. I got this car a little higher price than commonly advertised CIF prices as the car was in very good condition, highly demanded colour and carefully used.

I got the import documents for Korean SUV that is currently selling for around 6.5 million...the landed cost (and the guy should not have released the documents) was $18,000 USD!

[Gayan Weerakoon]

I went in a AXIO CAB yesterday hehe shows how much respect the car is getting in Colmobo.....

[rangerover]

I went in a AXIO CAB yesterday hehe shows how much respect the car is getting in Colmobo.....

Is it X or G grade? probably charge more per Km for a G grade, because of climate control AC and the RPM meter..

[Gayan Weerakoon]

Machang i think it was XXX grade

1. NO rpm meter

2. No Climate control

3. No rear discs

4. No alloy wheels

4. Same 1.5 VVTI engine from the 2001 121 corolla

Anyway the charge is RS 60 per KLM for a cab it was good he said they are planing to buy more Axio's for cab service...

[AsankaAuto]

I got the import documents for Korean SUV that is currently selling for around 6.5 million...the landed cost (and the guy should not have released the documents) was $18,000 USD!

What do u mean by this? I couldn't reveal d real CIF not because anything else other than Tax issues. And be more rational. There are many things need to be considered like various other costs, risk, and most importantly time spent in importing vehicles when calculating others' profits, other than simply adding up CIF and Tax.

[Lord-Sam]

It’s really sad that people are not getting the benefit from the tax reduction because the recondition car dealers

don’t want reduce the entire amount reduce by the tax they want to keep the market high

For e.g. a Toyota vitz will only cost 1.8 mil with all duty paid but how much is market value 2.7 mil

Who is responsible for this? I think that they are covering there losses

If you people have money always go for a Brand new Car you will get real benefit

[SeanD]

Wtf is an Axio?

[Z.u.L]

guys, this calculation is according to my knowledge. regardless FOB value the duty is calculated according to the agent value. for eg. an allion(1500cc)agent value is Rs.2,450,000. so the duty is going to be,

Rs.2,450,000 x 115% = Rs.2,817,500 (for a basic brand new allion)

if your car is 3 years old according to the old depreciation table you have to pay only 75% of tax,

Rs.2,817,500 x 75% = Rs.2,113,125 (remember that this value is minus the additional duty for extra options)

now since the depreciation % has changed to 55%(correct me if im wrong),

Rs.2,817,500 x 55% = Rs.1,549,625

difference is around Rs.563,500, but there is another thing with the excise duty, previously it use to be 17% for a vehicle under 1500cc, now it has been increased to 37%, so i dont know clearly how much more your going to pay for that.

the above calculations are according to my knowledge and it is not 100% accurate.

i also checked today with the customs as to how much duty will be charged on a hybrid vehicle. they informed me that if its full hybrid only at the range of Rs.750,000 will be charged as duty. the problem is i dont know what they mean about fully hybrid cuz every hybrid car i know has a 1.3,1.5 or a 1.8ltr normal engine in it. i was keen on importing a hybrid but dont want to take the risk since i clearly dont know what they mean by the term fully hybrid :s

i hope these points help you`ll.

Edited November 26, 2010 by Z.u.L

[Buddhika M H]

guys, this calculation is according to my knowledge. regardless FOB value the duty is calculated according to the agent value. for eg. an allion(1500cc)agent value is Rs.2,450,000. so the duty is going to be,

Rs.2,450,000 x 115% = Rs.2,817,500 (for a basic brand new allion)

if your car is 3 years old according to the old depreciation table you have to pay only 75% of tax,

Rs.2,817,500 x 75% = Rs.2,113,125 (remember that this value is minus the additional duty for extra options)

now since the depreciation % has changed to 55%(correct me if im wrong),

Rs.2,817,500 x 55% = Rs.1,549,625

difference is around Rs.563,500, but there is another thing with the excise duty, previously it use to be 17% for a vehicle under 1500cc, now it has been increased to 37%, so i dont know clearly how much more your going to pay for that.

the above calculations are according to my knowledge and it is not 100% accurate.

i also checked today with the customs as to how much duty will be charged on a hybrid vehicle. they informed me that if its full hybrid only at the range of Rs.750,000 will be charged as duty. the problem is i dont know what they mean about fully hybrid cuz every hybrid car i know has a 1.3,1.5 or a 1.8ltr normal engine in it. i was keen on importing a hybrid but dont want to take the risk since i clearly dont know what they mean by the term fully hybrid :s

i hope these points help you`ll.

Thank you very much for the info. Please share with u if you get more info.

btw 'full hybrid' ? are they mad?? as anyone can see that word hybrid refers to a car with 2 power sources. An engine and maybe electric motor. So it seems they may talking about electric cars eh? [Or is it about the fuel cell ones, like Honda FCX Clarity? ]

But if they are talking about full size electric vehicles that may be the dumbest thing to do. With already escalating electricity bill, think what a plug-in car would do? Those are good for countries with cheap electricity, may be from nuclear power plants, but for us it will be a whole lot of waste IMHO.

Seems we should try to find exact meaning of 'Full Hybrid'

BTW, do you or others will go for a hybrid (say this full hybrid includes all usual hybrids such as Prius, Civic etc) even the technology is new to Sri Lanka, I mean wouldnt you think twice about the places to do repairs, costs etc?

Edited November 26, 2010 by Buddhika M H

[Sifaan]

i also checked today with the customs as to how much duty will be charged on a hybrid vehicle. they informed me that if its full hybrid only at the range of Rs.750,000 will be charged as duty. the problem is i dont know what they mean about fully hybrid cuz every hybrid car i know has a 1.3,1.5 or a 1.8ltr normal engine in it. i was keen on importing a hybrid but dont want to take the risk since i clearly dont know what they mean by the term fully hybrid :s

wikipedia is your friend

http://en.wikipedia.org/wiki/Full_hybrid#Types_by_degree_of_hybridization

[Buddhika M H]

wikipedia is your friend

http://en.wikipedia.org/wiki/Full_hybrid#Types_by_degree_of_hybridization

oops i miss that. thanks.

hmm it seems Honda Civic Hybrid is out of that bracket

[Clark's son]

It is advisable to wait and see till some guinea pigs (gini pigs) use the hybrids in Sri lanka

The only new (full) hybrid in SL i know is always parked at t*y*t* lanka never to be seen on the roads

The battery is about 1 mill which is almost the price of a car needs replacement every 5yrs according to one of my friends who uses one in usa (decreased life from dust and heat)

No panchikawaththa only company.

More censors than nissan (air floow censor )

I'd personaly prefer an axio to go from A to B than a prius if it is unreliable

So if there are such guinea pigs in AL pls help the forum.

By the way is the tax reduction only for those who transport tourists

So will we have to drive a prius with a (goda suddha) in the passenger seat

Edited November 28, 2010 by Clark's son

[isurujosh]

It is advisable to wait and see till some guinea pigs (gini pigs) use the hybrids in Sri lanka

The only new (full) hybrid in SL i know is always parked at t*y*t* lanka never to be seen on the roads

The battery is about 1 mill which is almost the price of a car needs replacement every 5yrs according to one of my friends who uses one in usa (decreased life from dust and heat)

No panchikawaththa only company.

More censors than nissan (air floow censor )

I'd personaly prefer an axio to go from A to B than a prius if it is unreliable

So if there are such guinea pigs in AL pls help the forum.

By the way is the tax reduction only for those who transport tourists

So will we have to drive a prius with a (goda suddha) in the passenger seat

i always had it in the backs of my mind that this new found love for environment must be due to tourism (that's still a good thing though). but where did you pick it up that this tax reduction is only for tourist transporters?

Edited November 28, 2010 by isurujosh

[heavyD]

Wtf is an Axio?

I think its a mythical creature like the Unicorn... if you're lucky enough catch a good one, all your wishes will come true.

[Clark's son]

and don't try to catch a unicorn x grade without a horn

[SeanD]

Considering we do much less driving (on average) than larger and more developed countries, try and do a calculation on the fuel saved and see if it's actually worth it (when compared to the costs of buying and maintaining the prius).

On top of that, it's actually bad for the environment (as mentioned also on an old episode of top gear)

http://hubpages.com/hub/Prius

[Clark's son]

Who'd want a prius anyway

U'd spend more by maintaining it in 5yrs which will make the tax reduction useless

By the way u'l be using a nerd's-mobile

U can't even race the engine while idling.

I'd rather travel in a privet bus if i can't drive

(If i buy a BMW I-drive

If i buy a prius I-can't-drive (Synergy-drive))

Watch the top gear link

Edited November 28, 2010 by Clark's son