Tax concession for motor vehicles

Chaminda PERERA

The Inland Revenue Department yesterday said any tax payer who pays an annual tax not less than Rs 250,000 continuously for 10 years, is entitled to have a 25 percent tax concession to import a motor vehicle. Department's Deputy Commissioner H BA Seneviratne said this facility is available to import vehicles below 16cc engine capacity only.

He said any state sector or private sector employee who pays tax above Rs 250,000 per annum is entitled to this facility.