BusinessVehicle taxes imposed through Sri Lanka's 2016 budget will not be changed in the coming 2017 budget. The current taxes on vehicle imports will remain as it is for two years. Therefore other than rectifying any irregularities that may exist in the valuation system of vehicles, it is unlikely that there will be any tax revision on vehicle imports in the forthcoming budget, he said. He noted that that speculation that there will be a reduction in taxes on vehicle imports by the government was baseless. Prospective buyers should not be in a state of confusion or uncertainty on the current vehicle prices, he said adding that vehicle prices will not come down after the presentation of the 2017 budget.

Source: Sunday Times September 21, 2016 08:15 UTC