AMN/ WEB DESK
Sri Lanka has issued a gazette notifying the relaxation of restrictions on the import of cars. This announcement indicates that the country is gradually returning to normal after a severe economic crisis. The notification imposes a 50 percent surcharge on customs import duty for personal vehicles, starting today.
The government has also released separate gazettes detailing revised taxes on electric vehicles and a new luxury tax ranging from six to sixty million Lankan rupees per car.
Sri Lanka had previously banned the import of over 3,000 goods due to economic concerns tied to money printing and IMF-backed calculations in 2021. Import restrictions remained in place through taxes and exchange controls, attributed to policy conflicts that contribute to currency depreciation.
Only importers registered with the Department of Motor Traffic and state institutions can import multiple vehicles, while others may bring in only one vehicle within a 12-month period.