Tax on Motor Vehicles Increased

The Government has revised taxes on cars, three-wheelers and motorbikes effective from today (31 March 2012) in a move to reduce import costs and motor vehicle imports.

Tax on Motor vehicles which include cars, vans, trishaws and motor bicycles have been increased with immediate effect. The Ministry of Finance and Planning announced today that the increase was made to ensure a drop in the vehicles imported to the country in order to reduce the high traffic congestions prevalent. The Ministry also said that this move will help bring down the use of fuel by motorists.

The classifications of the Tax have been made to correspond with the engine capacity of the vehicles. Hybrid vehicle production taxes below 1000CC have been increased by 14 % with tax for all hybrids above 3000CC being increased by 57%.

Production duties for cars and vans have been classified into the fuel type used together with the engine capacity. The tax for cars that use Petrol under 1000CC have been increased by 85% with cars having an engine capacity of over 3000CC being increased by 129%. The category between 1000 CC to 2000 CC have also been increased by 85%.

Production duties on Diesel cars have been increased from upto 114% to 173% to correspond with the engine capacity.

Import duty on vehicle spare parts have also been increased to correspond the highest value on either Specific Duty or Advolarum Duty disbanding the previous method of taxation on spare parts.

However there has been no change in the tax imposed on tractors, busses and Lorries.

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Duty imposed on buses, Lorries, tractors removed

Customs duty imposed on buses, Lorries, tractors and new engines for Lorries have been completely removed.

The Ministry of Finance informs that the government has decided to reduce the duty charge for import of lorry and bus tires by 50 percent. This measure has been taken to encourage import of buses to help the tourist industry and to improve transport services. The Ministry of Finance informs that this measure was taken on a proposal submitted by the President in the budget.

Customs officials said that from January 01, value added taxes on buses, Lorries and trucks have been lifted giving effect to a proposal on the 2012 budget. Other items from which value added taxes have been lifted are raw materials used for spectacles and frames, sunglasses, perfumes, sports equipment, speakers and digital cinema equipment, photo sensitive semiconductor devices.

Value added tax have also been reduced on spares for poultry industry, sawn wood, mammoties, forks, moulding (steel, glass, rubber, plastic), machinery for rubber and plastic industries, greenhouses and poly tunnels.

New Registration Charges for Motor Vehicles – Budget 2012

The presently applicable relevant withholding tax will be amalgamated with vehicle registration charges and he applicable new vehicle registration charges will be as follow. (Effective from 24 November 2011)

Luxury, Semi Luxury and Dual Purpose Motor Vehicle Taxes

Luxury, Semi Luxury and Dual Purpose Motor Vehicle Taxes Sri Lanka 2012

Revenue Licensing Annual Fee for Motor Vehicle

The prevailing license fee has been increased by Rs. 150 for Motor bicycles
and Three Wheelers and by Rs. 500 for other vehicles (except Lorries
Tractors, Busses and Trailers).

There will be a 50% tax cut for vehicles in the tourism industry and a 50% tax reduction on tyres for bus.

Download Budget Highlights 2012 (PDF)

Most Wanted Hybrid Car Services Links

 

 

 

 

 

 

 

 

 

 

Taxes on imported vehicles increased

Sri Lanka has raised import duties on several categories of petrol-engined cars and three wheelers with steeper increases seen in larger hybrid vehicles, which had exceptionally low taxes earlier, Treasury Secretary P.B.

Sri Lanka has raised import duties on hybrid vehicles

On petrol cars with standard engines with capacities below 1,000 cubic centimeters the effective total tax rate will go up from the current 95 percent to 120 percent.

Between 1000 to 1,600 cc the effective rate will go up from 119 to 128 percent. On three wheelers the effective rate will go up from 38 percent to 50 percent.

On hybrid cars with engines below 2,000 cc total duties will go up from 38%  close to 50 %

UPDATE:  Total taxes on all petrol and diesel cars above 1600cc will remain unchanged.

 New Vehicle Duty Tariff  – 25/04/2011

 

 

 

 

 

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Hybrid Car FAQs

Hybrid Car Frequently Asked Questions

Question: What about the battery life of a hybrid car?

Batteries used in hybrid cars prove quite expensive while replacing them. However the car engineers have been successful in designing these batteries in a way that they would last as long as the lifetime of the car. Most of the hybrid car manufacturers give the warranty of eight to ten years and this is quite a long period for the car battery to last. You would be surprised to know that Toyota hasn’t replaced a single battery pack for the popular hybrid Prius since it was brought on the market in 2000.

Question: What makes a hybrid car more expensive than the conventional car?

Hybrid cars cost a few thousand dollars more than their conventional counterparts. The price of the hybrid car increases because of the costly batteries introduced in them and two engines in place of one. However, if we consider the purchase in the long run, hybrid cars prove much cheaper than the conventional cars if the total fuel consumption is taken into consideration.

Question: Is a hybrid car slower than the conventional car?

Hybrid cars are by no means slower than the non hybrid counterparts. In fact most of the hybrid cars these days attain more than 100 mph of the maximum speed which is more than enough for many people.

Question: How to recharge the hybrid battery?

There is no need to plug in the batteries in the hybrid cars in order to charge them up. In fact they are charged in the normal course of the drive. During braking and coasting the extra energy released gets converted into electricity which recharges the battery.

Question: How does cold weather affect the performance of hybrid cars?

Generally car battery doesn’t work well at low temperatures; but in most of the hybrid cars thermal management system is introduced to cope with the problem and so the car battery gets charged up as soon as you start the car. When the car battery attains the normal operating temperature which happens pretty fast, the car can perform well even at lower temperatures.

Question: What about driving hybrid car in hot weather conditions?

Driving a car in hot weather conditions is a tough ask indeed. There are a few automobile experts who doubt the safety involved in driving hybrid cars. According to them high voltage batteries used in hybrid cars can be very dangerous in hot weather conditions as there are chances of catching fire quickly. They also say that if a car meets with an accident, the car will catch fire so fast that it would be very difficult to rescue people travelling in the hybrid car. However, this criticism doesn’t hold good if we consider the fact that most of the hybrid cars have performed pretty well in the southern part of the U.S.A. like Florida, Arizona or Texas. As regards the high voltage battery pack, it has the thermal management system to control the heat inside. When the battery gets hot after a certain limit, the system will shut it off automatically; thus saving it from any untoward incident.

Question: What are ‘Green Vehicles’?

Hybrid cars are popularly known as green cars on account of their eco-friendly characteristics. These are the cars with low emissions which imparted them the status of eco-friendly vehicles. Hybrid cars are rapidly emerging as a promising option and a feasible solution to the fuel problems of the world. The fewer and cleaner emission of hybrid cars is an important characteristic of hybrid cars. These cars are known to lower the noise pollution level as their engines go on generating the necessary amount of horsepower without much roaring. When you switch the car on the electric mode, the car is virtually silent even when set in motion. Green vehicles indeed, aren’t they?

While global warming has become a serious environmental issue, using a hybrid car is a wise option to cope with the situation. Reduction in smoke and the emission of pollutants because of the hybrid cars will certainly prove ecologically beneficial.

Question: Is hydrogen fuel cell technology posing a threat to hybrids?

According to many auto experts, cars powered by hydrogen won’t pose any threat to the sales of hybrid cars for at least ten to twenty years to come. The first set of hydrogen powered cars will have a single energy source and so hybrids will be a far better option.

Question: What encouragement is given to promote the use of hybrids?

In many countries use of hybrid cars is being encouraged by the governments. There are many schemes initiated by the governments to promote the use of hybrid cars. For instance, in the United States of America, you get some tax benefits if you buy hybrid vehicles. In some countries the road traffic departments allow hybrid car owners to park their vehicles free of charge. There also are some specially built roads only for hybrid cars. These perks certainly encourage the potential car buyer to go for a hybrid car.