Import duty on select vehicles removed for better transport service

Tuesday, 10 January 2012 00:57 - - {{hitsCtrl.values.hits}}

Consequent to the Budget 2012 proposal, Custom import duties charged on the importation of buses, lorries, trucks and new lorry engines have been completely nullified.

The Custom import duty charged in the importation of tyres used for lorries and buses has been reduced by 50%.

The Finance Ministry said yesterday that measures have been taken to repeal the Custom import duties in the importation of buses, lorries and trucks to encourage importation of buses with high standard in order to maintain a high standard of tourist and passenger services and to implement efficient transport service of goods in the country.

In addition, measures have been taken to abolish the Custom import duty charged in the importation of new lorry bodies and to reduce the Custom import duty charged in the importation of the tyres used for lorries and busses by 50%.

These taxes have been revised in terms of the proposals put forward through the Budget 2012 by President Mahinda Rajapaksa who is also Minister of Finance.