Mini Budget Today 29Th January

[Galle]

Kindly Share your thoughts /any information / news about Vehicle duty of upcoming Interim budget on 29th Jan.

Im going to personally import an AXIO G 2014 which will arrive to port after this budget.

Thank you,

[VVTi]

The honeymoon of importing copious amounts of cars to Sri Lanka is over boys... import tax on cars will be the least of this governments concerns.

[Rumesh88]

If I may share my thought on this, I don't think there will be any changes to the vehicle tax regime. Should you need more reliable information please feel free to contact Sumanadasa or Chandrasiri Bandara .

[GayanR]

I don't think there will be any changes on import tax,but I see the 2nd hand market heading back to the super inflated era after this fuel price reduction.

Edited January 22, 2015 by GayanR

[The Don]

I don't think there will be any changes on import tax,but I see the 2nd hand market heading back to the super inflated era after this fuel price reduction.

I don't think the second hand market will move. The market is hedged against newly imported car prices and demand so that is unlikely to change. The petrol price change is temporary and volatile. Its madness to make decisions on buying a vehicle based on that.

[GayanR]

I don't think the second hand market will move. The market is hedged against newly imported car prices and demand so that is unlikely to change. The petrol price change is temporary and volatile. Its madness to make decisions on buying a vehicle based on that.

yeah true,I guess it's all temporary,but people are trying to get the maximum benefit out of it.I already saw some ads of vios and 121 prices gone up by 3-4 lks.

[zeem35]

AFAIK there is a change in tax. But not exactly sure how much.

Only a week to go so let's wait..

[sathyajithj99]

There are other important things to be considered in this budget other than reducing the taxes on cars. How about reducing the taxes on essential day today needs of people and helping them to get out of their misery.

[Watchman]

geez...there should be a filter that prevents a tread with the title containing "budget"+"market"/"duty"/"tax" from being created.

[Galle]

Issues here, how government is going to find the funds to increase salary of government servant, even after cut the Tax of essential commodities. So some taxes has to increase.

In a recent TV program, minister Harshanda silva said, Payee tax also has to increase.

we can’t think they have concern over people who buy cars ?
what do you all think ?

[vishkid]

New economic policy simplified is; more direct tax, less indirect tax.

If I were trying to please the masses, I would definitely increase vehicle duty and reduce public transport fares.

[aamarakoon]

It's gonna increase. No idea how much. The importers are said to be having a meeting with the finance minister.

[Crosswind]

yeah true,I guess it's all temporary,but people are trying to get the maximum benefit out of it.I already saw some ads of vios and 121 prices gone up by 3-4 lks.

That's because idiots, who live in a world of speculation, buy 121s and Vios.

[VVTi]

God, I hate aXios, 121s, Vios, Toyotas in general and tax threads.

[The Don]

When it comes to taxes it is BEST NOT TO SPECULATE. Because doing so is actually a form of market manipulation.

Lets all wait for the budget and see. Ultimately it is government policy, and we can't change it by speaking here.

But I feel the current government will atleast provide the normal concession of letting people who opened LC before a change in taxes was anounced to clear their vehicles under the old tax regime. This has been followed all the way through until the previous government interrupted it. Its only fair.

Also we are all car nuts, yes. But the lack of cars is hardly the biggest problem our country faces, or need to be rectified. I'm all for lowering taxes, but the roads in our country cannot really afford any more cars, so I'm more for using the money raised and improving public transport infrastructure in major cities, so more people can be encouraged to leave their cars home when they go to work. Sadly this is the only solution to the traffic problem and the resulting pollution.

[Pericles]

Issues here, how government is going to find the funds to increase salary of government servant, even after cut the Tax of essential commodities. So some taxes has to increase.

In a recent TV program, minister Harshanda silva said, Payee tax also has to increase.

we can’t think they have concern over people who buy cars ?

what do you all think ?

I thought they were gonna find the money from the savings created by getting rid of our world record cabinet.

[sathyajithj99]

God, I hate aXios, 121s, Vios, Toyotas in general and tax threads.

And yet your user name is VVTi. How about 'VVTi- sucks'?

[defendertdi]

If the Govt increases Duty like SLFP govt..then we cnt see any difference among two parties....

UNP always state that they have good economists....sudden increase of Tax is bad quality of any govt...where people fell in difficulty when it comes to import.......

If any Govt wants to reduce the expenses on one major thing that should do is Improving the Public transport.

Like having A/C Coaches etc

[Ruslan]

I thought they were gonna find the money from the savings created by getting rid of our world record cabinet.

Highly doubt that will be enough to pay off all the Gov salaries plus to cover the loss by Fuel price reductions (That's a Massive Amount).. easier thing would be to increasing the Private sector payee tax to the previous level.. Funny thing is, this Gov. cabinet is getting larger day by day too..

Edited January 25, 2015 by Ruslan

[GayanR]

God, I hate aXios, 121s, Vios, Toyotas in general and tax threads.

TIme to change your name bro

[Watchman]

If the Govt increases Duty like SLFP govt..then we cnt see any difference among two parties....

UNP always state that they have good economists....sudden increase of Tax is bad quality of any govt...where people fell in difficulty when it comes to import.......

If any Govt wants to reduce the expenses on one major thing that should do is Imtaproving the Public transport.

Like having A/C Coaches etc

That's a very surface level analysis if the situation. Taxes ARE necessary. Thats what pays for all the infrastructure we enjoy free of charge.

What the new government promised is good governance, which would mean they put a stop to the mindless wastage of public funds and stopping the endless borrowing.

Let me use a simple analogy. The in kids in a family (citizens) want lots of toys. The dad (government) has a limited monthly salary, of which he spends a lot on his personal vices of drinking and prostitutes (corruption and mismanagement). Bus the kids want toys, so the dad goes and takes loans every month from money-lenders, putting the family in greater debt. But the kids get toys. That's not a solution right? So what the new government has said is that the family income will no longer be spent on hookers and booze, and we'll try to sustain the family without going to the money-lender. For that everyone needs to play their part, and the kids' part is to realize they wont get as many toys as they would like.

[VVTi]

TIme to change your name bro

I love the technology... just hate the God-like status given to a maker of bland mundane cars...

Of course one cannot forget the Supra and the LFA and a few other interesting ar they make...

I will hold on to the handle... thank you very much.

[defendertdi]

That's a very surface level analysis if the situation. Taxes ARE necessary. Thats what pays for all the infrastructure we enjoy free of charge.

What the new government promised is good governance, which would mean they put a stop to the mindless wastage of public funds and stopping the endless borrowing.

Let me use a simple analogy. The in kids in a family (citizens) want lots of toys. The dad (government) has a limited monthly salary, of which he spends a lot on his personal vices of drinking and prostitutes (corruption and mismanagement). Bus the kids want toys, so the dad goes and takes loans every month from money-lenders, putting the family in greater debt. But the kids get toys. That's not a solution right? So what the new government has said is that the family income will no longer be spent on hookers and booze, and we'll try to sustain the family without going to the money-lender. For that everyone needs to play their part, and the kids' part is to realize they wont get as many toys as they would like.

If Govt want to ban car import...they increase the Tax for new orders one and not for already booked one..also keep in mind stopping car imports want save u lot of money....

only solution is stop wastage on Fuel ...by increasing public transport...if Govt increase tax people will buy cars manu in China or so on.....

i dont know why people do not have clear mind on transportation like any other countries have...

Only solution to reduce traffic and stop waste of money at Road is to enhance the Quality in Public Transport.....if a Good transportation system is operating...gradually people will get use to it....

[Crosswind]

I love the technology... just hate the God-like status given to a maker of bland mundane cars...

Of course one cannot forget the Supra and the LFA and a few other interesting ar they make...

I will hold on to the handle... thank you very much.

It's not the cars... its the idiots who own them...

Toyota makes good cars. No doubt about it but monkeys in this country act like they are tamil movie heroes once they buy a car after mortgaging their children and their grandchildren...

See how the Toyota owners are already quoting higher price tags for their cars, the moment a budget is announced! Do you actually see that with a Peugeot owner or a Mazda owner doing that?

[Galle]

problem that I see here is, if the government want to increase their revenues, increasing the vehicle tax will not work.

because after tax increase , people stop buying new vehicles. so revenues will come down. (there was a time in past only few vehicle got registered in each month)

but not sure how far this reality will understand by new government ?