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FINANCIAL CHRONICLE™ » FINANCIAL CHRONICLE™ » Where Are Ethics, Social Justice....With This Rude Tax Increment On Vehicle?

Where Are Ethics, Social Justice....With This Rude Tax Increment On Vehicle?

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ruc


Equity Analytic
Equity Analytic
They have increased fuel price & granted concessions for few categories.All bus owners benefited from increased bus fair.On the other hand this time on vehicle tax. they only consider abt government servants.so what abt others.
always average people suffering.why can't the reduce their government useless expenses.Huge Cabinet.several vehicles for MP's & ministers.
They ruined cse by introducing .....acts.

we have to pay for every thing.

aj


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
From the recent bus fare hike, bus owners got more than the cost of fuel. They got a bonus. The government was not intelligent or had a backbone to correct that.
See
http://www.ft.lk/2012/02/23/chartered-institute-of-logistics-and-transport-fumes-over-bus-fare-hike-method/

And there's an extra 10% bonus they get from Rs. 9 minimum charge. Maru na. Bus owners hit jack pot.

ruc


Equity Analytic
Equity Analytic
yes,I agree with you aj.

These stupid ministers doesn't know how to calculate % calculations & parameters to determine bus fair.They think only one passenger is traveling inside the but at a given time.

in addition majority of the profit is stolen by drivers & conductors.(they never give 1 rupee for 9/= ticket nor the bus ticket)

so how these people manage a place like CSE...

Monster


Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
I am a software engineer. If I am working in Sri Lanka, I may have to spend around 10 - 20 years of saving from my earnings to own a brand new Japanese vehicle. That means, I am spending half of my life for the vehicle.

In Kuwait, with almost one month salary I can purchase a 2nd hand Japanese vehicle (Year of Manufacture 2004 - 2005). If I save 4 - 5 months salary, I could go for a 2009 y/m Japanese vehicle. I could drive a 2012 model brand new Japanese vehicle in my 6 - 7 months salary.

Isn't it total unfair?

CSE.SAS


Global Moderator
By Shamindra Ferdinando

The recent increase of duties on vehicle imports, including three wheelers and motor cycles, hadn’t affected ‘privileged imports’, which accounted for a substantial percentage of the total annual imports, private sector sources told The Island.

Asked whether the Opposition would take up the issue, deleted National List MP Harsha de Silva said that there should be social equality in tax policy. The parliamentarian acknowledged that the latest taxes hadn’t been directed at politicians, public officials and professionals.

The government had adopted four specific measures to curtail the rapidly growing trade deficit, limit fuel consumption and increase revenue, the MP said. The economist described measures as depreciation of exchange rate, increase in interest rates, upward revision of fuel and electricity prices and increase in import duty.

Sources said that over the year duty free vehicle entitlement granted to members of parliament had been gradually increased from $ 10,000 to $ 50,000.
http://www.island.lk/index.php?page_cat=article-details&page=article-details&code_title=48995

ruc

ruc
Equity Analytic
Equity Analytic
yes.I agree with you monster.

This is the problem in policy planning.
1st they reduce tax on vehicles with out considering the outcome.
now it is raised up to sky.why can't they see the future.
this is how policy planning in SL.this is affected to every aspect of the economy.

kam2011


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
@ruc wrote:yes.I agree with you monster.

This is the problem in policy planning.
1st they reduce tax on vehicles with out considering the outcome.
now it is raised up to sky.why can't they see the future.
this is how policy planning in SL.this is affected to every aspect of the economy.


200% sure.

CSE.SAS

CSE.SAS
Global Moderator
A group of Sri Lankans who have opened Letters of Credit (LCs) for new vehicles is appealing to the government to exempt them from the new high tax regime. They say the LCs was opened before the new taxes were announced on March 31, and the vehicles are already en-route to Sri Lanka from abroad. In a letter to this newspaper, they say it is unfair and unjust to increase the tax on already ordered vehicles and point out to contradictions in the policy. For example, they said the objectives of the increased vehicle taxes are to cut import expenditure of imports, reduce the trade gap and reduce traffic congestion (by lesser vehicles on the roads).

On all these objectives, enforcing increasing taxes on ordered vehicles won’t change the statuesque.
They said most of them are unable to pay the new tax rate and won’t be able to obtain a refund. “The foreign exchange has already gone out and cannot be stopped,” the letter said.

If the vehicles are not cleared within 21 days of arrival, they will be auctioned by the Colombo Port or Customs at a much lesser value than the market price and anyway get on the roads. “Thus increasing taxes on this category of imports doesn’t fulfill the objective of reducing traffic congestion unless the vehicles are not driven on the roads,” the letter said.

It said 95% of those who have imported vehicles from Japan or any other country have obtained credit facilities from finance companies which fit within their repayment capacity. “Please remember that these people also work towards developing their motherland though they don’t get a permit to import a vehicle as some privileged persons do,” it said.
http://sundaytimes.lk/120408/BusinessTimes/bt35.html

Fresher


Moderator
Moderator
@Monster wrote:I am a software engineer. If I am working in Sri Lanka, I may have to spend around 10 - 20 years of saving from my earnings to own a brand new Japanese vehicle. That means, I am spending half of my life for the vehicle.

In Kuwait, with almost one month salary I can purchase a 2nd hand Japanese vehicle (Year of Manufacture 2004 - 2005). If I save 4 - 5 months salary, I could go for a 2009 y/m Japanese vehicle. I could drive a 2012 model brand new Japanese vehicle in my 6 - 7 months salary.

Isn't it total unfair?

monster, it's not true that you need that long. especially being a software engineer.
but of course it is unfair that we have to pay much more.
then again it is simple economics isn't it. if it was as same as elsewhere, we wouldn't have enough roads to drive our cars in! We definitely don't have enough roads to even now.

on another note, when govt reduced the tax sometime back no one complained although vehicle owners lost a lot of wealth. at least they can recover some of it now.

Monster

Monster
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
New Vehicle Prices.

Where Are Ethics, Social Justice....With This Rude Tax Increment On Vehicle? - Page 3 Vehicl10

Note: I got this new price table from an unknown source. Therefore, I don't know how far this can be true.

Slstock

Slstock
Director - Equity Analytics
Director - Equity Analytics
@Monster wrote:New Vehicle Prices.

Where Are Ethics, Social Justice....With This Rude Tax Increment On Vehicle? - Page 3 Vehicl10

Note: I got this new price table from an unknown source. Therefore, I don't know how far this can be true.

Good to know.
By chance do yo uhave the old prices to compare ( before hike) ?

Redbulls

Redbulls
Director - Equity Analytics
Director - Equity Analytics
Thanks Monster.

SL.Market

SL.Market
Vice President - Equity Analytics
Vice President - Equity Analytics
If the vehicle assemble in sri lanka then no tax imposed...

why?
Please explain..

Is it not affected to current traffic on the road due to assemble vehicle in sri lanka?

Paying in SL rupees for the parts imports for those assemble?

or

Any other hidden reason?

Redbulls

Redbulls
Director - Equity Analytics
Director - Equity Analytics
@SL.Market wrote:

Any other hidden reason?

Hidden reason obvious.

rijayasooriya

rijayasooriya
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
සුසුකි මරුටි ගනුදෙනුකරුවන්ට වැඩි වූ බදු මිලෙන් නිදහසක්‌


දශක 6 කට ආසන්න කාලයක්‌ ශ්‍රී ලංකාවට මෝටර් රථ ආනයනය කර අලෙවි කරන අංක එකේ ආයතනය වන ඇසෝසියේටඩ් මෝටර්වේස්‌ පුද්ගලික සමාගම (AMW) තම සුසුකි මරුටි ගනුදෙනුකරුවන්ට මෑතකදී රජය විසින් පනවන ලද බදු නිසාවෙන් වැඩි වූ මිල ගණන්වලින් අඩක්‌ම ආයතනය විසින් දරාගනු ලබමින් ඉමහත් සහනයක්‌ ලබාදීමට කටයුතු කර ඇත.

සීමිත කාලයකට (2012 මැයි 15 දක්‌වා) ලබාදී ඇති මෙම අවස්‌ථාව දැරිය හැකි මුදලකට අලුත්ම අලුත් Brand New භැඅ මෝටර් රථයක්‌ මිලදී ගැනීමට බලාපොරොත්තුවෙන් සිටි ජනතාවට විශාල සහනයක්‌ වන බව බොහෝ දෙනාගේ අදහසයි.

AMW ආයතනය කෙරෙහි විශ්වාසය තබමින් දැරිය හැකි මුදලකට ලබාගත හැකි ඉහළම ඉන්ධන කාර්යක්‍ෂමතාවක්‌ සහිත සහ අලෙවියෙන් පසු දිවයින පුරා විහිදී ජාලයකින් ලැබෙන අතිවිශිෂ්ට සේවාව මත සුසුකි මරුටි මෝටර් රථ 50,000 කට ආසන්න ප්‍රමාණයක්‌ මේ වන විට මිලදී ගෙන ඇති ගනුදෙනුකරුවන්ට තම කැමැත්ත අනුව දැනට පාවිච්චි කරන සුසුකි මරුටි මෝටර් රථය සමාගම සමඟ හුවමාරු කර Brand New රථයක්‌ ලබා ගැනීමට ඇති ඉඩකඩ ද මින් තවදුරටත් පුළුල් වේ.


http://www.divaina.com/2012/04/26/velanda02.html

SL.Market

SL.Market
Vice President - Equity Analytics
Vice President - Equity Analytics
@rijayasooriya wrote:සුසුකි මරුටි ගනුදෙනුකරුවන්ට වැඩි වූ බදු මිලෙන් නිදහසක්‌


දශක 6 කට ආසන්න කාලයක්‌ ශ්‍රී ලංකාවට මෝටර් රථ ආනයනය කර අලෙවි කරන අංක එකේ ආයතනය වන ඇසෝසියේටඩ් මෝටර්වේස්‌ පුද්ගලික සමාගම (AMW) තම සුසුකි මරුටි ගනුදෙනුකරුවන්ට මෑතකදී රජය විසින් පනවන ලද බදු නිසාවෙන් වැඩි වූ මිල ගණන්වලින් අඩක්‌ම ආයතනය විසින් දරාගනු ලබමින් ඉමහත් සහනයක්‌ ලබාදීමට කටයුතු කර ඇත.

සීමිත කාලයකට (2012 මැයි 15 දක්‌වා) ලබාදී ඇති මෙම අවස්‌ථාව දැරිය හැකි මුදලකට අලුත්ම අලුත් Brand New භැඅ මෝටර් රථයක්‌ මිලදී ගැනීමට බලාපොරොත්තුවෙන් සිටි ජනතාවට විශාල සහනයක්‌ වන බව බොහෝ දෙනාගේ අදහසයි.

AMW ආයතනය කෙරෙහි විශ්වාසය තබමින් දැරිය හැකි මුදලකට ලබාගත හැකි ඉහළම ඉන්ධන කාර්යක්‍ෂමතාවක්‌ සහිත සහ අලෙවියෙන් පසු දිවයින පුරා විහිදී ජාලයකින් ලැබෙන අතිවිශිෂ්ට සේවාව මත සුසුකි මරුටි මෝටර් රථ 50,000 කට ආසන්න ප්‍රමාණයක්‌ මේ වන විට මිලදී ගෙන ඇති ගනුදෙනුකරුවන්ට තම කැමැත්ත අනුව දැනට පාවිච්චි කරන සුසුකි මරුටි මෝටර් රථය සමාගම සමඟ හුවමාරු කර Brand New රථයක්‌ ලබා ගැනීමට ඇති ඉඩකඩ ද මින් තවදුරටත් පුළුල් වේ.


http://www.divaina.com/2012/04/26/velanda02.html


Dear Raja.. dont say "වැඩි වූ මිල ගණන්වලින් අඩක්‌ම ආයතනය විසින් දරාගනු ලබමින්"

Because they sell now imported cars before the rude tax increase....

what they now doing is realizing huge profit in very short period misleading the customers. Bacause they know No one buy maruti for 2.1 millions considering 1.5 millions befor tax.... now they sell a maruti for 1.9 million with 0.4 million bonus in addition to the profit from goverment



rijayasooriya

rijayasooriya
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
@SL.Market wrote:

Dear Raja.. dont say "වැඩි වූ මිල ගණන්වලින් අඩක්‌ම ආයතනය විසින් දරාගනු ලබමින්"

Dear Sl,

Please consider that this is not my article...This is copy and paste paper article.When we read any article we must remember the idiom saying කියන්නා කෙසේ කීවත් අසන්නා සිහි බුද්ධියෙන් ඇසිය යුතුයි Wink

SL.Market

SL.Market
Vice President - Equity Analytics
Vice President - Equity Analytics
@rijayasooriya wrote:
@SL.Market wrote:

Dear Raja.. dont say "වැඩි වූ මිල ගණන්වලින් අඩක්‌ම ආයතනය විසින් දරාගනු ලබමින්"

Dear Sl,

Please consider that this is not my article...This is copy and paste paper article.When we read any article we must remember the idiom saying කියන්නා කෙසේ කීවත් අසන්නා සිහි බුද්ධියෙන් ඇසිය යුතුයි Wink

Yes Raja... I knew It's not ur article.....
I tried to highlight that its misleading some poor readers

2011_NewComer

2011_NewComer
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
@rijayasooriya wrote:සුසුකි මරුටි ගනුදෙනුකරුවන්ට වැඩි වූ බදු මිලෙන් නිදහසක්‌


දශක 6 කට ආසන්න කාලයක්‌ ශ්‍රී ලංකාවට මෝටර් රථ ආනයනය කර අලෙවි කරන අංක එකේ ආයතනය වන ඇසෝසියේටඩ් මෝටර්වේස්‌ පුද්ගලික සමාගම (AMW) තම සුසුකි මරුටි ගනුදෙනුකරුවන්ට මෑතකදී රජය විසින් පනවන ලද බදු නිසාවෙන් වැඩි වූ මිල ගණන්වලින් අඩක්‌ම ආයතනය විසින් දරාගනු ලබමින් ඉමහත් සහනයක්‌ ලබාදීමට කටයුතු කර ඇත.

සීමිත කාලයකට (2012 මැයි 15 දක්‌වා) ලබාදී ඇති මෙම අවස්‌ථාව දැරිය හැකි මුදලකට අලුත්ම අලුත් Brand New භැඅ මෝටර් රථයක්‌ මිලදී ගැනීමට බලාපොරොත්තුවෙන් සිටි ජනතාවට විශාල සහනයක්‌ වන බව බොහෝ දෙනාගේ අදහසයි.

AMW ආයතනය කෙරෙහි විශ්වාසය තබමින් දැරිය හැකි මුදලකට ලබාගත හැකි ඉහළම ඉන්ධන කාර්යක්‍ෂමතාවක්‌ සහිත සහ අලෙවියෙන් පසු දිවයින පුරා විහිදී ජාලයකින් ලැබෙන අතිවිශිෂ්ට සේවාව මත සුසුකි මරුටි මෝටර් රථ 50,000 කට ආසන්න ප්‍රමාණයක්‌ මේ වන විට මිලදී ගෙන ඇති ගනුදෙනුකරුවන්ට තම කැමැත්ත අනුව දැනට පාවිච්චි කරන සුසුකි මරුටි මෝටර් රථය සමාගම සමඟ හුවමාරු කර Brand New රථයක්‌ ලබා ගැනීමට ඇති ඉඩකඩ ද මින් තවදුරටත් පුළුල් වේ.


http://www.divaina.com/2012/04/26/velanda02.html

They are giving that for all their vehicles.

If anyone interested, here are the prices (Got this from some advertisement email)

https://i.servimg.com/u/f45/16/35/54/14/image010.jpg

https://i.servimg.com/u/f45/16/35/54/14/image011.jpg

SL.Market

SL.Market
Vice President - Equity Analytics
Vice President - Equity Analytics
2013 Budget Speech

Twisted Evil All vehicles used for racing sports will be exempt from import tax, the President said in his budget speech


sanju351

sanju351
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
@SL.Market wrote:2013 Budget Speech

Twisted Evil All vehicles used for racing sports will be exempt from import tax, the President said in his budget speech



Cralton Guys wanted car races in sri lanka ..they must have told dady to do this that ...
He is the king .....
[b]

kuk83

kuk83
Manager - Equity Analytics
Manager - Equity Analytics
What a funny economic policies Very Happy .

econ

econ
Global Moderator
Miracle of Asia.. Very Happy

SL.Market

SL.Market
Vice President - Equity Analytics
Vice President - Equity Analytics
@econ wrote:Miracle of Asia.. Very Happy

Better to say....

Miserable Of Asia

aj


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
I thought these things happen only in some African countries. Limousines taxing as passenger buses. Changing the law this way and that way for family business deals.
What a lousy country you live in. If I were you I would take a boat and go somewhere. :-)

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