Import Taxes Up in Sri Lanka

In a strange attempt to cut the trade deficit, the Sri Lanka government passed a new tax that equals out to 10% more over the already insane taxes equaling out to between 250 to 350 percent.

Sri Lanka has consistently have problems dealing with their trade balance as each year they import more than they export. To deal with the problem, they try to cut the amount of imports of the biggest category: cars. The problems with doing this include sky-rocketing prices for used cars. This is because Sri Lanka doesn’t produce any used cars, and if the government kinks the imports (by raising costs), demand go up and supply plummets.

Of course, the average person in Sri Lanka cannot afford a used (4-years old) Corolla that costs over $40,000. So what happens? The government indeed cuts off trade, but at the expense of it’s people. More sad days ahead for would-be consumers.

Tags: , , , , , , , ,

7 Responses to “Import Taxes Up in Sri Lanka”

  1. Sri Lanka Customs Revenue Takes Hit « Japanese Used Car Importing Weblog Says:

    […] Lanka Customs Revenue Takes Hit Just last month, we reported how Sri Lanka raised import taxes by 10%. This month we are seeing the protest of importers have effect. Instead of raising revenue the […]

  2. Kumara Says:

    Free services for Sri Lankans

    visit http://www.videshasewa.com

    About Blue Permit – Sri Lanka Gift Permit Vehicles. Collect your Free Rs. 500/- Gift Voucher ! Immigration Emigration info, Jobs online & more…

  3. itunes gift cards Says:

    Everyone loves free vouchers right? I get mine on this new facebook app: http://rewardsrave.com Hope you’ll enjoy 🙂

  4. Peltier Cooler : Says:

    at home we have a use car that is a Nissan Murano. i love it..

  5. Manel Kurukulasuriya Says:

    in this case what can i say in our country only very clever ministers and there family’s can use good cars and jeeps including precedent and his all family members as Srilankans we are helpless government administers cheating us very sad

  6. part time jobs Says:

    part time jobs

    Import Taxes Up in Sri Lanka | Japanese Used Car Importing Weblog

  7. Kimbra Brothen Says:

    This site is completely awesome. I’ve looked these details
    a long time and I view it that is good written, fast to understand.
    I congratulate you for this article that I’ll tell
    to prospects around. I ask you to go to the gpa-calculator.co page where each scholar
    or college student can find ratings gpa marks. Thank you!

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s


%d bloggers like this: