Sri Lanka has been deprived of Rs. 38 billion in revenue through the importation of vehicles on concessionary permits, says a report in the Ceylon Today newspaper.
The newspaper has quoted the annual report of the Ministry of Finance that revenue foregone due to concessionary vehicle permits was reduced in 2016 as it declined to Rs. 38.2 billion from Rs. 40 billion in 2015.
According to the snnual report of the Finance Ministry registration of vehicles also declined in 2016 from 2015, with the registration of cars reduced by 57.2 percent, buses by 35.1 percent and three wheels by 56 percent.
A decision was made in the past to halt duty free vehicle permits for MPs. However, the decision was reversed in May 2016.
The Finance Ministry issued a circular effective from June 1, stating that duty concession for vehicles valued at less than 25,000 US dollars would be 65 percent.
The duty concession for vehicles valued at between 25,000 and 30,000 US dollars is 60 percent.
“On one hand they are causing the state to bear the cost for their personal luxuries, and on the other hand they are calling on the public to tighten their belts because ‘the country needs to increase its tax revenue’. We see that this has become a constant theme for this government.” said the Anti Corruption Front
Jan 17, 2018 0