The Investor Sentiment - Equity and investments forum for Sri Lankans
The Investor Sentiment - Equity and investments forum for Sri Lankans
Would you like to react to this message? Create an account in a few clicks or log in to continue.
Please send an email to contact.lankaninvestor@gmail.com if you face any technical difficulties when posting
Search
Display results as :
Advanced Search
Latest topics
Tokyo CementMon Nov 23, 2020 9:42 amRajapaksap
Insider Dealings Fri Nov 20, 2020 2:30 ampjrngroup
UML United MotorsTue Nov 10, 2020 8:50 amThe Invisible
ExpolankaMon Nov 09, 2020 8:46 pmsmallville
Plantation Sector UpdatesSat Nov 07, 2020 8:15 amRajapaksap
HAYC - HaycarbFri Nov 06, 2020 12:11 pmsubash
LWL.N0000 (Lanka Walltiles PLC)Fri Oct 16, 2020 12:50 amsubash
CSE Daylight Robbery !Mon Sep 21, 2020 9:54 pmYin-Yang
Trading Journal Tue Sep 15, 2020 10:37 pmThe Invisible
AEL Access EngineeringTue Sep 15, 2020 7:24 pmsmallville
CFVF - First CapitalWed Sep 09, 2020 9:42 pmWonderer
Disclaimer


Information posted in this forum are entirely of the respective members' personal views. The views posted on this open online forum of contributors do not constitute a recommendation buy or sell. The site nor the connected parties will be responsible for the posts posted on the forum and will take best possible action to remove any unlawful or inappropriate posts.
All rights to articles of value authored by members posted on the forum belong to the respective authors. Re-using without the consent of the authors is prohibited. Due credit with links to original source should be given when quoting content from the forum.
This is an educational portal and not one that gives recommendations. Please obtain investment advises from a Registered Investment Advisor through a stock broker

Go down
The Invisible
The Invisible
Posts : 2920
Join date : 2016-11-28
Age : 41

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

on Mon Sep 03, 2018 7:27 am
Message reputation : 100% (1 vote)
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)
Ethical Trader
Ethical Trader
Top contributor
Top contributor
Posts : 5567
Join date : 2014-02-28

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

on Mon Sep 03, 2018 5:14 pm
Thanks.
Back to top
Permissions in this forum:
You cannot reply to topics in this forum