There will be a marked decrease in the prices of motorcars and vans under the below 1000 cc engine capacity due to the new simple tax system introduced through the 2015 Budget proposals, chairman of the Vehicle Importers’ Association of Sri Lanka, Sampath Merinchige told Adaderana Biz.
He added that though there could be a slight downward trend in the prices of hybrid and Japanese car, it would not be that significant.
However, they are looking to provide the maximum concessions on these vehicles, said Merinchige.
“There was a great demand for vans. We were unable to import and cater to the demand. The government has taken this into consideration and reduced the duty by about two-thirds. Hence, there are greater opportunities to import vans in the future,” he said.
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