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Tax Increases

james

By james
in General Automotive

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Magnum Newbie

Magnum

Posted
Posted (edited)

seriously!? this govt. is the worst one cuz of the price of couple of hybrids went up!?

Price of Vezels and Aqua must be very important compared to other necessities(such as food) I assume :speechless-smiley-004:

Edited by Magnum
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james Newbie

james

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you are on the wrong forum. You should post this to FinanceLanka or ForexLanka.=))

AutoLanka is about automotives not forex :P

no machan this may not important to you. but others may need to know. we canot find these tax prices in forex if so pls give the link thanks.

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iRage Mentor

iRage

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no machan this may not important to you. but others may need to know. we canot find these tax prices in forex if so pls give the link thanks.

You are not asking about tax values you are eventually asking why the yen is appreciating in value !

Nevertheless, to answer your question about taxes, even if you were asking for it, I don't think any of the members here work at customs or MoF or is a parliamentarian to give you an answer on the rational behind the taxes.

Secondly, about why the yen is appreciating in value (or depreciating; depending on the direction of the wind)...it is a conspiracy damn it ! MY3 palanaya and Abenomics colluding to hit the poor lankan hybrid owners where it hurts :)

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B2Spirit Newbie

B2Spirit

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no machan this may not important to you. but others may need to know. we canot find these tax prices in forex if so pls give the link thanks.

Dude. Customs has already declared the CIF/FOB values for most of the models.

And the actual tax rates have been gazetted by the govt and is available to the public which are hard to decipher, but there are sites that give you the final tax % that comes out.

And customs publishes the forex rates they use at the start of the week.

All it takes is a little bit of googling to find that information.

Now you have the FOB/CIF, Tax rate & Forex rate!

So tell me why u can't calculate it ? and better yet there are even sites that give you indicative LKR tax value by make n model as well.

BTW, your question was on the rupee depreciating against yen and not the taxes.

Edited by B2Spirit
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B2Spirit Newbie

B2Spirit

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Due to the increase of Yen Tax is increase by the customs. Aqua - 1759000 Prius - 2579000 FIT GP5 - 1703102 VEZEL RU4- 2676625 Why these yen is going up?

And as for your yen problem, it seems like the CB has stopped defending the rupee against the USD for the time being.

You can see it from the LKR's significant depreciation this week against USD.

Therefore it is having an effect on all other currencies as well.

Edited by B2Spirit
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Magnum Newbie

Magnum

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And as for your yen problem, it seems like the CB has stopped defending the rupee against the USD for the time being.

You can see it from the LKR's significant depreciation this week against USD.

Therefore it is having an effect on all other currencies as well.

Im not quite sure what that means :speechless-smiley-019:

bdw 1 Aussie dollar is at 95LKR, looks like that hasnt gone up

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Rohnd Newbie

Rohnd

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USD has appreciated against Euro from 0.75 to 0.90 Euro for 1.0 USD.

SL cannot control USD !. Not the New or Old Governments.....

How about the vehicle prices 2005 vs 2014. Auto manufacturers have also increased the prices in the recent history.

Nobody talks about it.

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Ginger Newbie

Ginger

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The government is planning for a more liberal Forex policy in the future and already the Rupee is depreciated as a result. As some have already discussed in the forum, the taxable value of all imports will increase, thereby increasing the government indirect tax revenue from vehicle imports also. So, logically we can not expect any general tax increases for the industry. But may touch on some specific vehicle types - hybrid / electric / cc capacity etc.. May also bring in other fiscal reforms like discouraging vehicle loans and make other productive loans more attractive, if they are really concerned of our future. Also do not think that the government will change their stance on electric vehicle promotion, though it seems somewhat idiotic. There are more than 1200 vehicle sale points in the country and the industry has gone astray with a big capital drainage for the economy. Sadly most of diyawanna decisions are parliament jokes and only politically motivated. That is the moment of economic truth for poor Sri Lanka.

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B2Spirit Newbie

B2Spirit

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Also do not think that the government will change their stance on electric vehicle promotion, though it seems somewhat idiotic.

Not until this leaf bandwagon reaches a critical mass I guess.

Sooner or later with all the leafs plugging in the peak period of 7-10 PM, we can again enjoy the good old days experience of power cuts in the night.

Then as a solution we can restart all the oil power plants that are dormant these days and enjoy the efficiency :P

That way instead of only having the inefficiencies of the combustion engine, we can get the double inefficiency of power generation and power transmission on our way to charging the leafs :)

Edited by B2Spirit
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