Vehicle taxes from 2016 Budget, here to stay: Ravi K

Finance Minister Ravi Karunanayake

Finance Minster Ravi Karunanayake has categorically stated that there will be no revision whatsoever of taxes imposed on vehicles through the 2016 Budget proposals. 

Minister said neither vehicle importers nor the prospective buyers should be in a state of confusion or uncertainty. 

The Minister stated this during a meeting with the representatives of the Sri Lanka Vehicle Importers Association held on Saturday at the Ministry of Finance.

 “This post budget meeting was convened to  brief the vehicle importers about the taxes imposed on vehicles. It was revealed at the discussion that a state of confusion prevails in the vehicle market on the assumption that certain proposals would be revised in the future.  There is absolutely no basis in this. We have come forward to revive the economy which is in doldrums. We have a long term and well planned journey towards this end. 

Therefore I wish to state with utmost responsibility that there will not be any changes whatsoever in respect of proposals on vehicle imports. Hence I request the importers as well as buyers to execute their transactions at the current market prices without thinking about future prices,” the Minister said.

Vehicle Importers Association Chairman Indika  Samapth Merenchige expressed the following views after the meeting with the Finance Minister.

“There is a state of utter confusion in the local vehicle market at present as speculations are widespread that there will be changes in vehicle prices in the future. That is why we met the Minister to discuss this state of uncertainty. Now it is very clear that none of the taxes imposed on vehicles from the 2016 budget will be revised. “

“The Minister expressly stated that what he has done was in the best interest of the country. Therefore prices of vehicles will definitely increase in the future and we would like to appeal to customers to buy vehicles already imported, at the current prices. We also wish to extend our support to the government’s program. It is advisable for customers to buy vehicles already imported though their prices have gone up by some margin. The prices of vehicles imported in the future will be even higher,” Merenchige stated.