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Vehicle Import Tax Reduction For Government Employees


arunajn

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Sri Lanka allows state officials to import cars at reduced duty

Dec 14, 2010 (LBO) - Sri Lanka has approved tax cuts up to 50 percent of car import prices to senior state sector workers after nearly halving tariffs on motor vehicles a few months ago, a finance ministry circular showed.

The proposed tax cuts to be effective from December 15, 2010 are for state sector officials who have served in a senior position for over six years.

Military officers above the ranks of lieutenant colonel, commander and wing commander are entitled to the tax concession.

Professionals attached to the armed forces such as engineers, lawyers, doctors and accountants are also eligible, according to the circular obtained by lbr.lk, our sister news website.

Senior university academics with 12 years services are also eligible to the permit.

The tax cut is only valid to import brand new vehicles, but vehicles that have been used for less than one year abroad and locally assembled vehicles using brand new parts are also eligible.

Only vehicle up to a maximum of 25,000 US dollars cost, insurance and freight are allowed to be imported under the scheme.

Under the scheme, vehicles with an engine capacity less than 1,000 cc (cubic centimetres) will get a 50 percent tax cut, while vehicles above 1,000 cc but under 1,600 cc are entitled to a 45 percent reduction.

Vehicles under 2,000 cc but over 1,600 cc will get a 40 percent reduction, while vehicles above 2,000 cc but less than 2,600 cc are entitled to a 30 percent reduction on import taxes.

The tax cuts are the same for both petrol and diesel powered engines.

Until recently ordinary Sri Lankan's were paying vehicles import taxes of over 300 percent, while public servants and representatives were given permits to import vehicles tax free under scheme similar to the one announced by the Treasury.

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MPs using luxury vehicle permits to earn a fast buck?

December 14, 2010, 9:43 pm

* Government turns a blind eye to UPFA, UNP MPs exploiting Parliamentary privileges

By Lal Gunesekera

A majority of the 60 odd newly elected MPs elected had sold theirduty free car permits, political sources say. Sources said that those elected at the April 8 general election had been granted duty free vehicle permits to the CIF value of US Dollars 50,000 each. Those permits were issued some months ago and most opted for the Toyota Sahara, which they could purchase for Rs. 15 million duty free, whereas the market price is Rs. 30 million. Those Parliamentarians (both government and opposition) cannot transfer the ownership of those vehicles for a period of five years, but The Island learns that most of the newly elected MPs had sold their permits.

One UPFA woman MP, from the Western Province, had sold her permit to an individual for Rs. 12.5 million and the latter had in turn purchased a Toyota Sahara and sold it for Rs. 27.5 million. Another UPFA MP from the Trincomalee District had sold his permit for Rs. 16.5 million to another person who then purchased a Toyota Sahara and sold it for Rs. 25 million to a lay custodian of a temple in the Hill Country.

The Island also learns that a woman nominated MP from the Government ranks had sold her vehicle permit to a son of a well known business magnate for Rs. 10 million, but when she demanded more this businessman had returned the permit. It was then sold to a gem merchant in Ratnapura and again since more money was demanded the permit was returned to the woman MP, who finally managed to sell it.

A UNP Parliamentarian from the Ratnapura district, who was involved in a recent Court case filed, had brandished his revolver and obtained the figure he wanted for the vehicle permit.

Many MPs elected in April 2004 were also entitled to new duty free vehicle permits since their vehicles purchased with duty free permits are now over five years old. Most of them too have sold their duty free permits.

A Parliamentary source told The Island that the only way to prevent these parliamentarians from selling their duty free permits was to reduce the import tax on luxury vehicles.

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"Professionals attached to the armed forces such as engineers, lawyers.. "

Lawyers? can anyone shed some more light in this, thought lawyers only practiced privately.

thanks.

of course there should be wonderful lawyers to prosecute rogue army generals.

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"Professionals attached to the armed forces such as engineers, lawyers.. "

Lawyers? can anyone shed some more light in this, thought lawyers only practiced privately.

thanks.

of course there should be wonderful lawyers to prosecute rogue army generals.

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