Vehicle importers seek more concessions

Indunil HEWAGE

Sri Lanka Vehicle Importers’ Association seeks more concessions and regulations from the government at the forthcoming budget in a bid to streamline the local motor industry.

Vehicle Importers’ Association President Yoga Perera said the association has already requested the government to regulate the present VAT component to avoid a double taxation which has become a major issue for the local motor importers. Initially the time frame for importation of vehicles was three and a half years which was reduced to two years in April 2010 and this has resulted in an increase in vehicle prices.

The government needs to consider extending the years of reconditioned vehicle imports to two and half years as opposed to present two year time period.