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

University of Colombo MBA Alumi Budget 2016 – Discussion with Finance Minister Hon. Ravi Karunanayake

The MBA Alumi Association University of Colombo organized a forum of Budget 2016 with the Finance Minister, Hon. Ravi Karunanayake & key industry leaders at the Post-Budget forum. Take part of this forum and knew unseen background of Budget 2016 and thoughts of industrial leaders.

Date: 24th November 2015

Time: 9am to 12pm

Venue: Hotel Galadari

Ticket Price: Rs. 3,500/-

This would usefull for businessmen, Financial analyst and those who key concern on budget 2016.

For more details contact to The MBA Alumi Association University of Colombo on 0772 224 994 or see below image

University of Colombo MBA Alumi Budget 2016 – Discussion with Finance Minister Hon. Ravi Karunanayake
University of Colombo MBA Alumi Budget 2016 – Discussion with Finance Minister Hon. Ravi Karunanayake