Cabinet nod to table key tax and levy amendments to Parliament

Wednesday, 9 April 2025 00:00 - - {{hitsCtrl.values.hits}}

The Cabinet of Ministers on Monday approved the submission of three significant fiscal regulations, published in the Government Gazette to Parliament for approval.

These include revisions to tax limits and levies affecting motor vehicles and electric vehicles as well as an extension of existing deviation of levy relief.

These include;

Notification on the revision of tax limit of luxury on motor vehicles under the Finance Act No.35 of 2018 published in the extraordinary gazette notification No. 2421/41 dated 31 January 2025.
Rule issued under the Production Levy (Special Provisions) Act No. 13 of 1989 on revision of production levy rate for vehicles operated with electricity published in the extraordinary gazette notification No. 2421/42 dated 31 January 2025
Order issued under the Finance Act No. 25 of 2003 on extension of the period on which the 50% relief is active which is given to the deviation levy published in the extraordinary gazette notification No. 2421/30 dated 31 January 2025.

The proposal to this effect submitted by President Anura Kumara Disanayake in his capacity as the Finance, Planning and Economic Development Minister was approved by the Cabinet of Ministers.