Sri Lanka to Carry out Zero Tariff on Pure Motor-Driven and Hybrid Electric Vehicles

News from 2011 budget report of Government of Sri Lanka saysid that Sri Lanka wouldwill further reduce tariff and relevant scot on imported motor vehicles in new financial year. According to the relevant projects, the Government of Sri Lanka wouldwill impose zero tariffs on motor-driven and hybrid electric vehicles; as for the second-hand vehicles, the government also plans to reduce the taxation valuation from current 80% to 60%. In addition, the Government of Sri Lanka wouldwill also reduce the value-added tax on motor vehicles from current 20% to 12%.