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Luxury tax on vehicles to be decided based on the vehicle model instead of the engine capacity.


iPrabhath

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I believe this is going to cut off the increasing no of high spec euro imports with smaller engines, it’s hard to assume anything else can get cheaper isn’t it

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Another set of idiotic tax may be on the way.

How do you define luxury from a brand, for instance Toyota Crown for me is a luxury car, Mercedes C class is not.

Ideal will be based on CIF for instance for sub Rs. 1.0 Mn, 1.0-2.0 Mn., 2.0-4.0 Mn. and so on

System should have the capacity to capture options as this adds significant value to CIF

May not be ideal but will be much better than the current system.

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Either way I like to see tax reducing for vehicles. However me personally like the fact if they do not tax based on engine capacity. Not a fan of small displacement turbo engines. Ex I like to have a 1.5/1.8L 4cyl natural aspiration vs a 1L 3cyl turbo.

 

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1 hour ago, Quiet said:

In the past tax was based on brand new agent valuation minus a depreciation for the number of years. I think these guys will go back to the same system.

no the new system have CC tax + LX TAX with a little deduction for depreciation. I have the document but forum have no option to attach a pdf

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IMG-20191024-WA0001.thumb.jpg.523ef890c47f8446fb4c5d1c2c240ef9.jpg

This is just to get an idea about how it's going to be implemented. AFAIK this will come into effect after the next election. What they did was make the road clear. Now they can implement it at any time. Because this is related to the amendment of Finance act. 

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48 minutes ago, priyanka said:

People have started fishing already.... highly suspicious who is behind this...

20191024_171258.jpg

Expected luxtax for C200 - 4.0 million....what? How did they even come up with that number while the CLA & GLB is at 1.9 million ??? Lol

 

Edited by □AVANTE□
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3 hours ago, priyanka said:

People have started fishing already.... highly suspicious who is behind this...

This looks fishy.

I googled up the so called clearimg agency but it dosent seem to be of a clearimg agency.

This looks more of an attempt buy some car sale buyyas to sell off the huge stocks of cars they have in stock.

 

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There is only one news item on this

No information of the Treasury or Customs web

Although this was on the cards from the last budget days it was newer formalized, as far as I know there is a huge pile of unsold stocks

Considering the elections are round the corner very unlikely that they will do any change

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39 minutes ago, kush said:

There is only one news item on this

No information of the Treasury or Customs web

Although this was on the cards from the last budget days it was newer formalized, as far as I know there is a huge pile of unsold stocks

Considering the elections are round the corner very unlikely that they will do any change

http://bizenglish.adaderana.lk/government-amends-luxury-tax-on-motor-vehicles-based-on-price/

 yes there's no information from treasury or customs, 

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On 10/24/2019 at 6:38 PM, Junkfriend said:

refer to the 2 images for newly proposed lux tax for all vehicle types

0001.jpg

0002.jpg

In this table, tax for Peugeot 5008 1.6L is given, which is not imported since tax for 1.6L is very high. Anybody knows new tax information for Peugeot 3008 1.2L Turbo?

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