The Sri Lankan government has officially announced the import tax rates for vehicles through a special gazette notification. The new tax rates, effective from February, impose significant levies on vehicles less than 10 years old from their date of manufacture.
According to the notification, the taxes range between 200% and 300% of the vehicle’s value, depending on various factors such as the type, engine capacity, and environmental compliance of the vehicle.
This measure, introduced by the President in his capacity as the Minister of Finance, aims to control the importation of vehicles, reduce foreign exchange outflows, and encourage the use of environmentally friendly transportation options.
Below is the text of the gazette notification:
