Colombo Motor Show 2017

Asia Exhibition Organised an Seylan Colombo Motor Show 2017 from 18th to 20th August 2017 at BMICH on 10th Consecutive Year.

This Colombo Motor Show is one of the few highlighted event held in BMICH every year and attracts much more automobile enthusiastic at BMICH.

Colombo Motor Show 2017 consists of below booths

  • Banks & Finance
  • Auto Products & Services
  • Bike & Car Stunts
  • Custom-Built Bikes
  • Detailing & Upholstery
  • Passenger Cars
  • Off Road Vehicles/Suvs/4×4
  • Custom-Built Vehicles
  • Designers/Modifiers/Tuners
  • Bikes, Trikes & Quads
  • Paints & Coatings
  • In-Car Entertainment
  • Tyres, Wheels & Rims
  • Petroleum Products
  • Lubricants

For More Details about the Colombo Motor Show 2017 contact on 0716996644,  0719997712, 0719997717 or see below image

Colombo Motor Show 2017

NTB offers lowest interest rate on motorbike leasing

Offering convenient and flexible vehicle financing offers, Nations Trust Bank (NTB) recently introduced the lowest ever motorbike leasing solution to the market with an interest rate of 24% per annum, with a short response time of 24 hours.

The new leasing solution will enable middle income families to purchase their dream motorbike which was previously unaffordable, in a hassle free manner within a short period of time.

Nations Trust Bank operating with a policy of offering customers an unprecedented service experience has added ample features to enact and facilitate middle income families to make leasing a viable solution for them.

Commenting on this initiative, Priyantha Wijesekara, DGM Leasing, Nations Trust Bank said. “We are pleased to offer this leasing solution which we believe would fulfill the aspirations of many middle level income families in Sri Lanka. A motorbike, for many is the first step towards achieving their big dream and we want to be the enabler for it.” He further commented, “As a bank that caters to all consumer needs, we feel that this consumer segment has huge scope for expansion.”

Nations Trust Bank PLC is ranked among the top 25 business establishments in Sri Lanka by Business Today magazine and its market positioning of being the benchmark of customer convenience, is ably supported by a host of financial products and services offered to a wide range of customers.

New Vehicle Prices after Budget for 2016

As expected the new government budget for 2016 introduce new valuation system for imported vehicles, this valuation lead to increase prices of imported vehicles by Rs. 200,000 up to Rs. 2.5 million.

The new valuation system was introduced recently taking full option manufacturers price as the tax base and the Finance Minister Ravi Karunanayake said  in budget proposal that this is to further strengthen this process of collecting the payable taxes said that the unit rate of excise duty for the vehicles on the basis of cubic centimeters and duties on the percentage basis on certain vehicles would be revised.

Automobile sellers has indicated the main selling automobiles like Nissan leaf, Suzuki WagonR, Suzuki Alto, Suzuki K10, Toyota Aqua, Toyota Prius and Toyota, Nissan Van prices will be increase as follow

Nissan Leaf Electric Vechile by Rs 2.5 Million

Wagon R by Rs. 400,000/-

Auto & K10 by Rs. 250,000/-

Toyota Aqua by Rs. 500,000/-

Toyota Prius by Rs. 700,000/-

Van by 2.5 Million

Meanwhile, 2016 budget has reduced excise duty to 2.5 percent for the vehicles which are run entirely on Solar, Hydrogen or Helium.

And the Vehicle Entitlement Certificate for each vehicle was also introduced and therefore motor cycle and three wheeler is unchange, Rs.15,000 for a motor car and Rs.10,000 per vehicle for all other vehicles would have to pay as fee

Government allows import of high-powered motorbikes

The Government will allow the import of high powered motorcycles -from 450 cc to 1001 cc — upon payment of duty.

The decision by the Cabinet of Ministers overturns objections earlier by the Police that they did not possess such high capacity motorcycles to cope with an influx.

Ministers have decided to lift the restrictions imposed on the import of high powered bikes up to 1001 cc. They can now be imported legally and registered with the Department of Motor Traffic.

Last year the Government granted permission to register motorcycles with high capacity engines only for sports purposes. The approval of the Secretary to the Ministry of Defence was needed for such imports. Prior to that, the import of motorcycles with a capacity higher than 350 cc was banned.

Earlier, the police had expressed concern over granting of permission for high-powered motorcycles as they could be used for criminal activities and they could escape as the police did not have such powerful bikes. However, recently, the Police imported some 230 bikes of 600 cc capacity. But most of them have been distributed in and around Colombo.

NEWS

New Vehicle Valuation and tax scheme will increase the prices of vehicles by Rs. 400,000 to Rs. 500,000

As news stated the Customs Director General Jagath Wijeweera inform the customs department is deciding on the value of brand new vehicles instead of accepting the declaration by the importers.

This has decisions has make in the detail investigation on vehicles importers undervalued the vehicle valuation while imports, its including few leading companies too.

This approach has reduced tax incomes to the government which is a considerable amount in total. Therefore the customs has set up valuation committee to determine the value of the vehicle and thereby impose the valuation tax.

The New taxation systems are expected to lead to a vehicle prices increase between Rs. 400,000.00 to Rs. 500,000.00.  But this system will help government to raise their tax revenue to the government.

It is expect to be applies for those who imported and yet to clear them.

 

Factors to Consider before and after implement this New Tax System – Personal Opinion

Before implement this new tax scheme

  1. Makesure it is not to impact to the law budget vehicles which are mostly purchases for the self-businesses or small businesses like three wheels, Small cars for Budget taxi and motor bikes.
  2. Understand the weakness and wholes in old tax systems and make alerts to income tax department or customs to be aware of those lopes whole.
  3. Consider the cost of living index and increase accordingly, rather increase just because of maximise revenue
  4. Take actions against those who violate and get penalties for their wrongful behaviour

After implementation this new tax scheme

  1. Makesure its not harms to low income or middle income class who dreams to buy a small cars or basic model of vehicles
  2. Rectifies all the lopes whole and avoid any fraud to comes in future
  3. Educate importers and customs about the new vehicle import tax system and avoid any under pricing in future
  4. Be tight with rules and regulations and need to take actions against those to violating this new impose tax systems.

Auto and Transport Show – from 25th to 27th April 2014

Ministry of Transport organised an exhibition and Auto transport show from 25th, 26th and 27th April 2014 at BMICH.

The exhibition will inclusive of International Bike Stunt, Vehicle show, Go Cart Racing, 4X4 offroad Show, Live DJ, Gaming Zone, Road Safety Campaigns and win Free Air Tickets too.

See below image for more information

Auto and Transport Show – from 25th to 27th April 2014
Auto and Transport Show – from 25th to 27th April 2014

MCSL Auto fair 2013 on 13th to 15th December 2013

With the Celebrating 30 Years of Excellence MCSL Financial Service Limited offers an MCSL Auto Fire 2013 at Rajagirlya Municipal Grounds from 9.00 am – 6.00 pm (Front of UC).

The auto fair will open for 13th to 15th December and on the spot vehicle auction will be held on 15th December at 10.30 am.

For more information see below image

MCSL Auto fair 2013 on 13th to 15th December 2013
MCSL Auto fair 2013 on 13th to 15th December 2013

Colombo Motor Show 2013 at BMICH on 6th to 8th September 2013

The Asia Exhibition and Conventions organises a Colombo Motor Show 2013 at BMICH from 6th September to 8th September 2013 from 10.00 Am to 10.00 Pm.

The event is with wide range of automobiles showcasing in srilanka. such as latest cars vans and SUV and the Vintage cars of Sri Lanka too.

Click Here to see Colombo Motor Show 2012 Photos

For more information contact organising committee on 0719997712 | 0716861805

Or see below image

Colombo Motor Show 2013 at BMICH on 6th to 8th September 2013
Colombo Motor Show 2013 at BMICH on 6th to 8th September 2013

Kawasaki KLX 125 Motor Bike in srilanka for Rs. 325,000.00

The Dream Bikes imports Kawasaki KLK 125 Motor Bike and selling for those who love adventures at a best price of Rs. 325,000.00

Click Here for more information about the Kawasaki KLX 125 Motor Bike

Those who would love to buy Kawasaki KLX 125 Motor Bike call Dream Bikes on 0776 131 985

Kawasaki KLX 125 Motor Bike in srilanka for Rs. 325,000.00
Kawasaki KLX 125 Motor Bike in srilanka for Rs. 325,000.00