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Budget 2018: Vehicles tax revised


The ‘2018 Budget, Blue Green Enterprise Sri Lanka’ got underway in Parliament today with Minister of Finance Mangala Samaraweera delivering the Budget speech.

Minister Samaraweera commencing his opening address said the 2018 Budget is focused on sustainable development goals.

In the vehicular category the 2018 Budget proposed all vehicles used by state employees to be hybrid or electric by the year 2025.

The Finance Minister also proposed the special luxury tax to be imposed on vehicles above 2500CC engine capacity while the tax on diesel three-wheelers will be increased by Rs.50,000.

The Minister noted that substandard vehicles will not be imported to the country while proposing that 50 electric buses will be purchased in future.

A carbon tax will be imposed on new vehicles including cars, motorcycles, and buses.