Sunday, July 31, 2016

Finance Ministry Has Issued A Revised Circular On Duty Free Vehicle Permits With 50% Tax Concession

Image result for vehiclesThe Ministry Of Finance has issued a revised circular on Duty Free Vehicle Permits by allowing state sector employees to import vehicles with value up to US Dollars 30,000 with 50% tax concession.

Finance Minister Ravi Karunanayake had submitted a cabinet paper regarding the revised circular on 26th of May and received the cabinet approval on 16th of July according to the Finance Ministry.

According to the revised circular public officers,Executive Officers in state departments and statutory boards,government lawyers and doctors university lecturers,Vice Chancellors and executive non academic staffers of Universities are entitled to receive this revised concessionary vehicle permits the Ministry has stated.

The previous government has issued duty free vehicle permits for over 38,000 state employees since 2010 and the loss of the tax income government has incurred due to this is over Rs.143 billion it has been reported.

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