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Thread: Sri Lanka government tax increase from 120% to 200%t

  1. #11

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    I can only imagine that the used car part business will grow because its too expensive to buy new cars. Its time for us to market to Sri Lanka for used parts!

    Sri Lanka now has the highest tax rate on cars. Many countries have been taxing at 100% duty. But such an increase in taxes is actually counter-productive. Imports will slow to less than half what was being brought in, so the government will lose the revenue because they have made it too expensive, and people will find alternatives, like repairing and repairing and repairing over and over. Cuba is a very good example of what happened to the restrictive import market. From what I'm told you'll see mostly 50s American cars all over the place, because once Cuba went "red", the only cars allowed in were from Russia, and we all know how good those cars were...

    Anyhow, parts is now a good business in Sri Lanka! Good timing for me, we have a new dismantling company and are looking for business!

    Steven Smith
    I'm a Canadian in Nagoya

  2. #12

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    That's pretty crazy mak and a good point by Sastrad.
    mak are you allowed to import the body and driveline separately and reassemble it?

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