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Sri Lanka Removes Vehicle Import Tax for hybrids and Electric Cars,...... A timely move,.... Well done,....
Tuesday, 23 November 2010 - 11:09 PM SL Time
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Sri Lanka has made electric and hybrid cars duty free, while value added tax and rates of depreciation allowed for used cars has also been increased, a budget for 2011 said.
Another tax, social responsibility levy has been removed and nation building tax reduced from 4.0 percent to 3.0 percent.
But a Treasury official said excise taxes have been raised to recoup revenue losses from other taxes.
Though the price of new cars may not come down, an official said the price of older car could come down.
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