50% surcharge on vehicle Customs Import Duty from today

The Ministry of Finance has decided to impose a 50% surcharge on the customs import duty applied to imported vehicles from today (16).

According to the gazette issued by the Ministry, this surcharge will be in effect for a period of three months.

However, the Ministry stated that this additional charge will not apply to letters of credit (LCs) opened on or before today.

The gazette has been issued under the powers vested in the President as the Minister of Finance, Anura Kumara Dissanayake.

It specifies that the surcharge applies to vehicles imported for public transport, personal use, and goods transportation.

Meanwhile, the President of the Vehicle Importers Association of Sri Lanka, Indika Sampath Merinchige, stated that vehicle prices are likely to rise further due to this surcharge.

Additionally, Deputy Minister of Finance Anil Jayantha Fernando said at a press briefing held at the Government Information Department that the government has not taken any decision to halt vehicle imports.