Amended concessionary vehicle import scheme for public officers



article_image

Cabinet approval has been granted on July 16 for the reintroduction of an amended program of providing concessionary vehicle permits for public officers under which a permit holder will be entitled to a 50 percent waiver on all taxes payable on an imported vehicle valued up to USD 30,000, the finance ministry announced on Friday.


Finance Minister Ravi Karunanayake presented a cabinet paper on this subject on March 26 this year. The proposal has been accepted on July 16 and the industry and investment department of the finance ministry has issued the necessary circular (No. 01/2016), a news release issued in this connection said.


According to the release, the government has issued over 38,000 vehicle permits to state officers under the previous concessionary scheme since 2010 and the tax waived in this regard exceeds Rs. 143 billion.


Public officers, executive officers in state corporations and statutory boards, doctors and legal officers in government service, vice chancellors, university lecturers and executive non-academic staffers of the universities are entitled to this concession, the ministry news release said.


According to the new circular, the period of service completed by individual officers in the state sector will be taken into consideration for the issue of the vehicle permits. An applicant should have completed more than six years of state service to be eligible for the facility but this period will differ for officers of state corporations and statutory boards.


An individual officer will be restricted to two concessionary permits during their careers and a second permit will be issued only 10 years after the purchase of the first vehicle on the concessionary basis.


However Public Administration Circular No. 22/99 permitting the vehicle purchase concession to government servants of the executive grade at the time of retirement will remain in force, the release said. It did not make clear whether this permits a third vehicle at the time of retirement.


The finance ministry said that the relevant circular may be downloaded from the treasury website www.treasury.gov.lk under its trade and investment policy department tag.


 
 
 
 
 
 
 
 
 
 
animated gif
Processing Request
Please Wait...