Colombo, Sri Lanka – Finance Ministry Secretary Mahinda Siriwardena has stated that relaxing vehicle import restrictions will be a key revenue-generating measure in the 2025 budget. He revealed that import taxes on vehicles are expected to contribute approximately one percent of the Gross Domestic Product (GDP).
Speaking at a post-budget discussion in Colombo, Siriwardena emphasized that the government is relying on taxation from imported vehicles to strengthen state revenue following years of import restrictions.
Additionally, he confirmed that high import taxes have also been imposed on digital services, cigarettes, alcohol, and gambling. The budget also includes taxes on certain export goods, a move aimed at expanding the tax base while ensuring revenue sustainability.
The announcement signals a major shift in trade policy, as Sri Lanka looks to balance economic recovery and fiscal stability through controlled imports and targeted taxation policies.
