Government Announces New Import Duty Rates for Vehicles

COLOMBO (News 1st) – Issuing an extraordinary gazette notification, the government has announced new import duty rates for vehicles to be imposed on imports starting from February. 

According to the extraordinary gazette notification, the President, exercising powers vested in him as the Minister of Finance, Planning, and Economic Development, has decided to impose an import duty of 200% to 300% on vehicles that are no more than 10 years old from the date of manufacture.

Additionally, certain categories of vehicles will be subject to duties based on factors such as engine capacity and motor power, measured in kilowatts.