The age limit for reconditioned cars has been increased to two years from the previous limit of one year and the age limit for commercial vehicles has been increased to four years from the previous limit of three and half years.
This decision was taken following a group of vehicle importers met with President Mahinda Rajapaksa at the Temple Trees recently to discuss the restrictions and levies imposed by the Ministry of Finance on the vehicle imports.
On a request made by the Vehicle Importers Association for revision of the duty structure, President had explained that higher duty structure cannot be changed since revenue safeguards were important in the current context.
The government raised taxes on motor vehicles effective March 31, 2012.
Deputy Minister of Finance and Planning Geethanjana Gunawardena, Secretary to the Ministry of Finance Dr. P.B. Jayasundera, President's chief of Staff Gamini Senarath were also present at the discussion.