Import of cars will be allowed from January ~ Sri Lanka Hot News | lankahotnews.com | Sri Lanka Hot News

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A report released by the International Monetary Fund shows that the Sri Lankan government will announce its plan on automobile imports this week, according to which Sri Lanka will obtain permission to import cars in early 2025.

The fund mentioned this while releasing a review of loan instalments under its extended finance facility.

Therefore, the steps agreed to increase state tax revenue to nearly 1.9% of GDP include the removal of existing import restrictions on imported goods, including vehicles.

As a result, it is said that comprehensive import permits for all vehicles will be issued from January.

The committee appointed by the Ministry of Finance to make recommendations in this regard has submitted its report to the President and it is reported that the import restrictions on commercial vehicles will be lifted soon, followed by restrictions on public transport services.

In addition to this, several new taxes will be imposed, including a wealth tax, an increase in stamp duty on property sales, the removal of the income tax exemption currently given to export services, and the imposition of a value-added tax on digital services, the report noted, with the aim of increasing government revenue.

– Mobima Jun 1 ’17 at 14:25

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