CMTA urges action on government revenue leakage of Rs.40 billion
The Ceylon Motor Traders’ Association (CMTA), established in 1919 is the most senior automotive association in Sri Lanka affiliated with the Ceylon Chamber of Commerce, is calling for greater consistency, transparency and fairness in the policies governing the country’s automotive sector, stressing that a sustainable vehicle import framework must ensure a level playing field across […]
The Ceylon Motor Traders’ Association (CMTA) has called for action on significant government revenue leakage of approximately Rs. 40 billion in 2025, stemming from the current depreciation mechanism applied to used vehicle imports. This mechanism disproportionately benefits certain imports, which are assessed as used vehicles even if they are practically new, leading to an unfair advantage.
The CMTA stresses the importance of a fair, consistent, and transparent policy framework for the automotive sector, arguing that such measures should not unduly disadvantage legitimate businesses or distort market competition. The association also highlights concerns over the recent 50% surcharge on vehicles, fearing it could further complicate the already challenging market, impacting vehicle prices, consumer affordability, and business viability.
Brief written by urgent.news from The Island Sri Lanka's own syndicated text. Machine-written — may contain errors; check the original before relying on it.
