Custom Import duties charged in the importation of Buses, Lorries, Trucks and new diesel lorry engines are completely nullified, stated the Ministry of Finance and Planning.
The Custom import duty charged in the importation of tires used for Lorries and busses is reduced by 50%, the Ministry said.
“Measures have been taken to repeal the custom import duties in the importation of Buses, Lorries and trucks to encourage importation of buses with high standard in order to maintain a high standard of tourist and passenger services and to implement efficient transport service of goods in the country,” the Ministry further said.
In addition, measures have been taken to abolish the custom import duty charged in the importation of new diesel lorry engines and to reduce the custom import duty charged in the importation of the tyres used for Lorries and Busses by 50%.
These taxes have been revised in terms of the proposals put forward through the Budget 2012 by the President Mahinda Rajapaksa.