Import tax on cars, vans and dump trucks up from Friday

Import tax on cars, vans and dump trucks went up from midnight Thursday after excise duty on these vehicle categories were increased. Import tax on cars, vans and dump trucks went up from midnight Thursday after excise duty on these vehicle categories were increased. Excise duty on cars went up from 25 percent up to 60 percent, in three bands, based on engine capacity, says the Department of Customs.

The tax on less than 1,000cc cars increased to 30 percent, while duty on 1,000 cc – 1,500cc cars went up to 40 percent.

The excise duty on cars above 1,500 cc is now 60 percent from the previous 25 percent.

Duty on vans, jeeps, and dump trucks jumped from 48 percent to 84 percent in two bands based on weight.

Vans, jeeps and dumpsters weighing less than 1,175 kg must now pay 72 percent excise duty compared to the previous 48 percent.

The tax went up to 84 percent on these vehicle categories that weight over 1,175kg.

Sri Lanka imports around 2,000 cars and vans per month.

Prior to the increase in excise duty the Customs revenue target for the year was around 27 bn with around 4 bn coming from taxes on ve