Feb 16, Colombo: Auto traders in Sri Lanka have called on the government to reconsider a tax revision for vehicles used for the transportation of goods like small lorries and trucks.
The traders have pointed out that the goods transportation sector that uses small lorries and trucks is being affected by Treasury's ad hoc tax increases.
The local media reported that while the tax on trucks in Japan, Singapore, Malaysia and Pakistan is around seven per cent, in Sri Lanka it is around 49 per cent and the highest in the region.
The tax on small lorries and trucks has risen to 49.6 per cent with effect from January this year from 26 per cent in September last year.
President of the Ceylon Motor Traders' Association, Tilak Gunasekera has said that taxes were increased to 26 percent from 15 percent before the 2014 budget in September and to 49.6 percent from 26 percent after the budget in January 2014.
The association has called on the government to reconsider the tax revision imposed twice within four months which has caused an adverse impact on the vehicle import industry.
The association has also asked the government to adopt a consistent tax policy on vehicle imports.