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Thursday, February 10, 2011 - 6.35 GMT

Import duties on hybrid vehicles cut down

 
The import tax on hybrid vehicles which have been used below three and a half years will be reduced from 30% to 15%.

This reduction was taken as a step towards environmental conservation and is effective immediately, Deputy Finance Minister Geethanjana Gunawardena said.

President Mahinda Rajapaksa in November last year said electric and hybrid vehicles will be completely freed from excise duties and value added tax to promote environmental friendly vehicles.

The government also slashed import duties on all vehicles by 50% in June last year.









 
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Last modified: February 10, 2011.

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