ආනයනිත පාවිච්චි කළ වාහන මිල නැවත ඉහළට

With the removal of the 15% depreciation allowance procedure that was previously in effect for used vehicles imported into Sri Lanka, there is a risk that the prices of such vehicles in the local market will significantly increase in the future. The Vehicle Importers' Association of Sri Lanka (VIASL) points out that due to these new changes incorporated into the customs vehicle valuation method, the prices of many popular vehicle models among local consumers will rise substantially.

Under this, the price of a Honda Vezel type motor car could increase by approximately Rs. 2 million, and a Suzuki Wagon R type vehicle by approximately Rs. 700,000, stated Mr. Arosha Rodrigo, the media spokesperson for the association.

Due to the abolition of the 15% depreciation allowance that was previously in effect, the customs assessed value of vehicles will increase, and as a direct result, the taxes and duties imposed on vehicles will also rise. The Vehicle Importers' Association states that the ultimate impact of this will fall on the ordinary consumer, who will have to pay exorbitant prices for vehicles. Two methods for determining the customs value of motor vehicles were introduced by the Special Gazette Notification No. 1971/10 issued on June 14, 2016, and this amendment has been made to the regulations applicable to used vehicles. This 15% allowance was initially provided with the aim of accurately adjusting the gap between the actual transaction value and the retail price in the market.

The Vehicle Importers' Association completely rejects the allegations made by some parties that providing such an allowance for used vehicles results in a loss of revenue for the government. They point out that the retail prices in foreign markets are not the actual transaction prices. They emphasize that there is a clear difference between the true value of a vehicle and its retail price due to various factors such as discounts for bulk purchases, dealer profits, and local taxes in the respective countries. Therefore, they urge the authorities to reconsider this decision for the sake of the public's ability to purchase vehicles and the survival of the vehicle import sector, as this step was not a special privilege granted by the government but merely an adjustment of the customs value in accordance with market realities.