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james

No Tax Increase But Fob

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government has increased FOB value of most vehicles, but they have keep the tax percentage as same,

For ex,

PRIUS

Previous FOB - 2410000 (YEN) TAX 92% Total Tax Payable - 2730589.69 (YEN RATE 1.9)

Current FOB - 3497237 (YEN) TAX 92% Total Tax Payable - 3925989 (YEN RATE 1.9)

So there is no change of tax but tax value is increased due to the increase of FOB value.

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government has increased FOB value of most vehicles, but they have keep the tax percentage as same, For ex, PRIUS Previous FOB - 2410000 (YEN) TAX 92% Total Tax Payable - 2730589.69 (YEN RATE 1.9) Current FOB - 3497237 (YEN) TAX 92% Total Tax Payable - 3925989 (YEN RATE 1.9) So there is no change of tax but tax value is increased due to the increase of FOB value.

A Government here cannot increase the FOB values. It is the work of car dealers in Japan & manufacturers. However government here get the yield of Tax due to the increase in FOB.

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A Government here cannot increase the FOB values. It is the work of car dealers in Japan & manufacturers. However government here get the yield of Tax due to the increase in FOB.

FOB and customs valuation are somewhat NOT the same thing...

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new fob effective date 17th sep or 30th sep ?because clearing agent said new fob effective will apply from after 17th sep...

http://bizenglish.adaderana.lk/from-when-are-vehicle-price-hikes-effective-the-answer/

"As revealed to us, though the government had initially announced that the price increase would be effective on these vehicles for which Letters of Credit had been opened after 17 September 2015, it has now been announced that this deadline has been extended till 30 September.

Hence, these price revisions on Japanese vehicles would be effective only on those vehicles to which Letters of Credit have been opened from 01 October 2015, said a spokesman from the Sri Lanka Motor Vehicle Importers’ Association."

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