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Sri Lanka car registration up in July, tax not yet hit EmptyToday at 6:10 pm by ruwan326

» Easter Sunday Attack and Sri Lanka
Sri Lanka car registration up in July, tax not yet hit EmptyToday at 3:40 pm by ruwan326

» My Port Folio Bleeding But Its just the Begining Of..
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» Thread for News on CSE and SL Economy
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» සදහම් අටුවාව
Sri Lanka car registration up in July, tax not yet hit EmptyYesterday at 6:52 am by ruwan326

» HNB.N0000 ( Hatton National Bank PLC)
Sri Lanka car registration up in July, tax not yet hit EmptyFri May 17, 2019 9:54 pm by dhanurrox

» Re: Financial reports Q1-2019
Sri Lanka car registration up in July, tax not yet hit EmptyFri May 17, 2019 7:53 pm by dhanurrox

» Sri Lanka mulls 25-pct ownership limit in finance companies
Sri Lanka car registration up in July, tax not yet hit EmptyFri May 17, 2019 3:40 pm by Backstage

» Searing Heat in China Is Causing Havoc for Rubber Makers
Sri Lanka car registration up in July, tax not yet hit EmptyFri May 17, 2019 2:43 pm by Backstage

» COMB.N0000 ( COMMERCIAL BANK OF CEYLON PLC )
Sri Lanka car registration up in July, tax not yet hit EmptyThu May 16, 2019 8:00 pm by hammurabi

» Dividend Announcement
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» Israeli spyware breached WhatsApp security
Sri Lanka car registration up in July, tax not yet hit EmptyWed May 15, 2019 7:47 am by කිත්සිරි ද සිල්වා

» Is Burka prohibted ?
Sri Lanka car registration up in July, tax not yet hit EmptyWed May 15, 2019 7:30 am by කිත්සිරි ද සිල්වා

» Thread for General News Local/Foreign
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» Fed Rate hike , Rs Devaluation PART 2 : Should CSE be like this? Whose FAULT is it?
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» What to Analyse
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» Sweden-based Tundra Fund says Colombo bourse at lowest levels since 2009
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» Telenor and Dialog Axiata's parent in talks to merge Asian businesses
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» In the Meantime, Within Our Shores !
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» LLUB.N0000 (CHEVRON LUBRICANTS LANKA PLC)
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» how to access internet ?
Sri Lanka car registration up in July, tax not yet hit EmptyFri Apr 26, 2019 7:55 am by කිත්සිරි ද සිල්වා

» SERV - The Kingsbury
Sri Lanka car registration up in July, tax not yet hit EmptyThu Apr 25, 2019 9:26 am by ruwan326

» Lessons from movies
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» DFCC.N0000 ( DFCC BANK PLC )
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» Happy Birthday
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» Little Known Facts !
Sri Lanka car registration up in July, tax not yet hit EmptySun Apr 21, 2019 9:27 am by කිත්සිරි ද සිල්වා

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Sri Lanka car registration up in July, tax not yet hit EmptySat Apr 20, 2019 10:07 am by ruwan326

» HASU.N0000 (HNB ASSURANCE PLC)
Sri Lanka car registration up in July, tax not yet hit EmptyThu Apr 18, 2019 6:05 pm by Ethical Trader

» EAST WEST PROPERTIES PLC (EAST.N0000)
Sri Lanka car registration up in July, tax not yet hit EmptyThu Apr 18, 2019 6:02 pm by Ethical Trader

» අසිරිමත් සුබ නව වසරකට ආසිරි !
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» SEYLAN DEVELOPMENTS PLC (CSD.N0000)
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» East West properties
Sri Lanka car registration up in July, tax not yet hit EmptyFri Apr 12, 2019 5:27 am by dhanurrox

» HHL.N0000 ( Hemas Holdings PLC)
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» කිරි පිටි ගැන ඔබ මෙතෙක් නොදත් දේ
Sri Lanka car registration up in July, tax not yet hit EmptyMon Apr 08, 2019 5:31 am by Ethical Trader

» CONN.N0000
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» LION.N0000 (Lion Brewery Ceylon PLC)
Sri Lanka car registration up in July, tax not yet hit EmptySun Apr 07, 2019 8:52 am by ruwan326

»  5000 Post Milestone - Congratulations
Sri Lanka car registration up in July, tax not yet hit EmptyFri Apr 05, 2019 9:07 pm by Ethical Trader

» NTB.N0000 (NATIONS TRUST BANK PLC)
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» Micro Finance
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» REXP.N0000 ( RICHARD PIERIS EXPORTS PLC)
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» Sinhala Cinema
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Sri Lanka car registration up in July, tax not yet hit

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Sri Lanka car registration up in July, tax not yet hit Empty Sri Lanka car registration up in July, tax not yet hit

Post by The Invisible on Mon Sep 03, 2018 7:27 am

ECONOMYNEXT - Sri Lanka's motor car registrations grew 137 percent to 7,193 units in July 2018 despite a hike in taxes, as there was a large stock of smaller vehicles in the country, with total vehicle registrations up 7.47 percent to 42,043, an equities research house said.

Sri Lanka suddenly hiked taxes of a category of small hybrids, which people were buying because other cars were too expensive, due to problems with monetary management of the central bank.

Analysts have called for the reform of Sri Lanka's unstable soft-peg and permanent currency depreciation maintained by inconsistent policy which is disrupting business, peoples' lives and their aspirations.

"The impact of the recent increase in minimum duty rates will only be reflected in registrations towards the end of the year for there are large stocks of unregistered cars in the market and many more on the water that will not be taxed at the higher rates," JB Stockbrokers said in a note to clients.

The government allowed cars already ordered to come at the old tax in a bid not to disrupt the lives of citizens who had already planned and found funding for the vehicles, in an improvement from the casual disregard shown in earlier years.

Instead of fixing the unstable peg, Sri Lanka has started to rely more on disruptive administration measures such as credit controls using loan to ratio values, second guessing people's decisions and regressing to planning style measures, analysts have said.

In addition to small car owners, potential three wheeler owners were most badly hit.

While ordinary people are suffering state workers are getting tax slashed cars and the ruling class itself it is getting tax free cars.

Motor cycle registrations fell 6.2 percent to 28,662 units in July from a year earlier. Three wheelers were also down 6.3 percent to 1,675 units.

Suv and crossovers registrations were up 19.2 percent to 533 units in July. (Colombo/Aug31/2018)
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Sri Lanka car registration up in July, tax not yet hit Empty Re: Sri Lanka car registration up in July, tax not yet hit

Post by Ethical Trader on Mon Sep 03, 2018 5:14 pm

Thanks.
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