Mar 12, 2022

Approval to import vehicles after paying taxes in dollars?

The Central Bank of Sri Lanka has recommended to the government to allow the importation of vehicles by paying the duty in dollars.

If vehicles are allowed to be imported by paying the duty in dollars, the Central Bank noted that this would help resolve the immediate dollar problem in the country by the rapid inflow of dollars held by certain individuals.

The Central Bank officials also pointed out that this would enable the expatriate workers to also import vehicles.

However, the Central Bank has recommended to the government that the importation of vehicles according to the regular process be further discouraged in view of the economic situation in the country.