Signed by President Anura Kumara Dissanayake, acting as the Minister of Finance and Economic Development, the gazette outlines excise duties ranging from 200% to 300% for vehicles no older than 10 years from their manufacture date.
Key Highlights of the New Policy:
• Passenger Vehicles: Excise duties range from 200% to 300% for vehicles not exceeding 10 years from their date of manufacture.
• Modified Vehicles: Vehicles carrying fewer than 13 passengers are taxed at 300% if they are not exceeding 2 years from their date of manufacture and have been modified.
• Engine Capacity Rates:
• Vehicles with engines between 1,000cc and 1,500cc are taxed at Rs. 3,850 to Rs. 4,450 per cubic centimeter (cc).
• Vehicles exceeding 3,000cc face duties up to Rs. 13,300 per cubic centimeter (cc), depending on their age.
• Hybrid and Electric Vehicles: Duties vary based on motor type and battery capacity, with electric-only vehicles taxed at 200% if older than 3.5 years and up to 300% for newer models.
