Hybrid car prices will go up due to tax revision

Vehicle Importers Association Chairman Mahinda Sarathchandra said yesterday that prices of vehicles below 1000 cc would come down only by Rs. 25, 000 in the wake of the 15% tax reduction announced in Thursday’s mini budget while all hybrid cars would go up by as much as Rupees one million. Mr. Sarathchandra said the 172.5% custom duty which had been imposed on cars below 1000 CC was reduced to 155.25% which would result in a decrease of Rs. 25, 000 for cars below 1000 cc. He said however prices of hybrid cars would go up by a huge amount due to the new tax system.

 Mr. Sarathchandra said the price of a Prius car would go up by Rs. 9 75, 000, Axio by Rs. 7 25, 000 and Honda Fit by Rs. 700, 000 because of the new taxation. He said the tax revisal would have an impact on vehicle importers.(Ajith Siriwardana) Listen Audio here - See more at: http://www.dailymirror.lk/62601/hybrid-car-prices-will-go-up-due-to-tax-revision#sthash.ZFpMsi0x.dpuf