Because of the Yen matter, not because of VAT the imports of vehicles from Japan stopped for six months

Because of the Yen matter, not because of VAT the imports of vehicles from Japan stopped for six months

The importation of  vehicles from Japan have been stopped from this month until six more
months.The Lanka vehicles importers society and the Sri Lanka vehicle importers society have made this decision after they had a joint media briefing on the 04th instant in Colombo.

Te reason has been owing to the constant fluctuation of the Japanese Yen currency.This was added by the President of the vehicle importers association Sampath Merinchige.

Adding further the President Sampath Merinchige had said that the worst criteria faced by the members of the vehicle importers association is the upward trend of the Japanese Yen.This is the fact that had affected the importers.In this context he had  also said even for a small  imported hybrid vehicle a sum of Rs 3 1/2 to Rs 5 lakhs has to be paid as additional taxes.

As a consequent of this matter the importers of vehicles have become bankrupt as they cannot bear the extra charges in addition to to increasing rate of the Japanese Yen.