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.
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 cubic centimeters total duties will go up from 38 percent close to 50 percent.
UPDATE: Total taxes on all petrol and diesel cars above 1600cc will remain unchanged.
Courtesy: Ada Derana