In JPC TRADE CO, LTD. we are all excited about the great news from Sri Lankan government regarding the tax reduction for importing vehicles.
There was a reduction on Duties and excise duties mainly.
Special mention refer to those hybrid cars that are going to be only 39 % of CIF value. If you don't believe (we also didn't believe it) please check the following.
The reduction was applied not only on the Excise duty, but also VAT.
Here is a table comparing a petrol car in 2010 versus a hybrid car in 2011
Used cars not more than 3.5 years (PETROL) 2010 | Used cars not more than 3.5 years (HYBIRD) 2011 | Reduction | |
HS CODE | 8703.22.50 | 8703.21.91 | |
Duty | 30 % | 15 % | 50 % |
NBT | 3 % | 3 % | 0 % |
VAT | 20 % | 12 % | 66 % |
Excise duty | 17 % | 0 | 100 % |
PAL | 5 % | 5 % | 0 % |
SRL | 1.5 % | 0 | 100 % |
Cess | |||
RIDL | 5 % | 0 | 100 % |
Total % of CIF value approximately | 125.27 % | 39 % | 220 % |
Not convinced yet, here is another powerful reason to buy a Hybrid, especially the PRIUS one.
According to Toyota the PRIUS has an estimate of 51 mpg on City conditions, 48 mpg on Highway and 50 mpg combined.
50 miles are equivalent to 80.46 km. and one gallon equals 3.78 Km. so it will give a combined 21.28 kilometers per liter, an astonishing rate.
So you will save not inly on taxes but petrol as well.
Please do not wait any more and send us the ID number so we will be happy to bid on behalf you.
YM
