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Tuesday, 15 February 2011 14:18

Sri Lanka slashes import duties on hybrid vehicles

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Feb 10, Colombo: In a measure to promote the conservation of environment the Sri Lankan government said it has reduced the import tax on hybrid vehicles.

The tax reduction from 30% to 15% for hybrid models less than three and a half years old will take effect immediately, Deputy Finance Minister Geethanjana Gunawardena has said.

President Mahinda Rajapaksa last November said that the government in order to reduce environmental pollution will completely remove excise duties and value added tax on the electric and hybrid vehicles which are cleaner with fewer emissions to the environment.

The government also slashed import duties on all vehicles by 50% in June last year.

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