May 27, 2018

New taxes double vehicle prices Featured

The new tax system for vehicles will result in a two-fold increase in the prices, warns vehicle traders association president Gihan Pilapitiya.

Previously, the vehicles tax depended on the engine capacity, but now, the taxes go up step by step, he says.

He recommends adopting a tax system that has the prices as the basis.

Furthermore, the prices of Japanese, Korean and Indian vehicles are on the increase, while the depreciation of the rupee too, is a concern, says Pilapitiya.

According to him, certain German and British vehicles are not suited for the country’s roads, and the non-availability of spare-parts too, should be looked into.