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Surcharge on used, modified vehicle duties removed
View(s):The government has decided to remove the surcharge of 50 per cent imposed on the import duty on used and modified vehicles from April 1 onwards, which is set to see a reduction in these types of vehicles, officials said.
The government has rescinded a gazette notification issued by President Anura Kumara Dissanayake in his capacity as Minister of Finance, Planning and Economic Development, to extend a surcharge extended till December 31.
The gazette notification on surcharge was initially introduced in January 2025, effective until the end of last year, and then extended until the end of this year.
Due to the imposition of a surcharge of fifty per cent in recent times, the prices of used and modified vehicles remained high in the local market. Sources in the motor-importing circles said that with the removal of the surcharge, prices of new vehicles are also expected to see an impact as well.
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