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Asian Tribune is published by World Institute For Asian Studies|Powered by WIAS Vol. 12 No. 2340

Duty on motorcycles, mini trucks and single cabs slashed

Colombo, 17 August, (Asiantribune.com):

The ad-valorem excise duty rate of 90% imposed on motorcycles with an engine capacity less than 150cc will be removed with effect from midnight today (17), Finance Minister Mangala Samaraweera said.

The duty is charged based on engine capacity. The ministry said that a substantial price reduction will happen, particularly for Japanese motorcycle.

Meanwhile the excise duty on mini trucks and single cabs has been reduced by Rs 300,000 with effect from midnight today.

Accordingly, the present duty rate of 45% or Rs 1 million has been reduced to Rs 700,000.

The present sales price is expected to be reduced by Rs 300,000.

- Asian Tribune -

Duty  on motorcycles, mini trucks and single cabs slashed
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