Govt. earns Rs. 349 b from vehicle imports in first nine months

Wednesday, 29 October 2025 04:52 - - {{hitsCtrl.values.hits}}

Vehicle import tax revenue surges 818% YoY

Vehicle import duties surged 818% year-on-year to Rs. 349 billion in the first nine months of 2025, up from just Rs. 38 billion a year ago, according to the Finance Ministry’s latest Fiscal Review Report.

According to CBSL data released in September 2025, vehicle imports reached $ 193 million in July, boosting the total to $ 668 million for the first seven months of the year.

The value of motor vehicle imports is expected to reach $ 1.5 billion this year, up from the earlier projection of $ 1.2 billion, Central Bank Governor Dr. Nandalal Weerasinghe said last week.

This means the Governor expects vehicle imports to total $ 830 million in the last five months of 2025.

Earlier this month the International Monetary Fund (IMF) noted that the Government’s fiscal performance has been strong, primarily supported by taxes on motor vehicle imports.

But the revenue boost from vehicle import taxes is seen as temporary and not a structural improvement in Sri Lanka’s revenue administration.