Govt. earns Rs. 136 billion from vehicle imports in 4 months
- CNL Reporter
- June 5, 2025
- Business News
- Vehicle Imports
- 0 Comments
The Government has generated Rs. 136 billion in revenue from motor vehicle imports between January and April 2025.This figure includes collections from Value Added Tax (VAT), Customs Duty, and Luxury Tax.
This disclosure was made by Sri Lanka Customs officials on Tuesday (3), during a meeting of the Committee on Public Finance (CoPF) chaired by MP Dr. Harsha de Silva.
It was revealed that the Government has set a target of Rs. 450 billion in total revenue from vehicle imports for the year and, given the current situation, officials expressed confidence in achieving this goal.
Deputy Treasury Secretary A.K. Seneviratne, who was also present at the meeting, disclosed that 596 Letters of Credit (LCs) have been opened so far in 2025 for vehicle imports and $ 272 million worth of vehicles have already been cleared.
He expressed confidence in meeting the revenue target, noting that the Government currently earns $ 1.7 for every Dollar spent on vehicle imports, compared to the expected $ 1.5 per Dollar.
