Japanese cars hit the sky

Through the Gazette notification No. 1933/16 pertaining to imposing Customs duties, the government has announced new Customs duties on Japanese motor vehicles like Toyota and others imported to Sri Lanka.

Accordingly, the Customs duty on a Toyota Aqua vehicle has been increased by Rs. 770,000while the duty on a Toyota Axio vehicle has been increased by Rs. 703,000.

Furthermore, the Customs duty on a Toyota Hiace Petrol vehicle has been increased by Rs. 1,365,000 and a Toyota Hiace Diesel vehicle by Rs. 1,700,000.

Similarly, the Customs duties on Toyota Premio/Allion vehicles have been increased by Rs. 675,000 and Toyota Prius motorcars by Rs. 1,120,000.

Also, the Customs duty on a Toyota Harrier has been upped by Rs. 1,150,000 while on a Mitsubishi Outlander the duty has gone up by Rs. 852,000.

The duty increases on these vehicles are given in the following Table:

Commenting on this, Sri Lanka Motor Vehicle Importers’ Association president Indika Sampath Merinchige said that the prices of these vehicles would increase in accordance with these Customs duty increases.

He also added that due to the duty increase on Japanese vehicles, the prices of Indian manufactured vehicles too would increase.

Source : http://bizenglish.adaderana.lk/exclusive-duty-increase-on-japanese-cars-hit-the-sky-aqua-up-by-7-lakhs-prius-by-11-20-lakhs/