The Vehicle Importers’ Association of Sri Lanka has said that nearly 75% of the imported stock of 7000 cars has already been sold. Speaking to the media, the association’s President Prasad Manage refuted media reports suggesting a decline in imported vehicle sales, and said that vehicle imports had resumed steadily. He noted that demand is…
World’s largest motorcycle manufacturer, Hero MotoCorp, has been India’s largest 2W manufacturer for a long time. The company also has a robust international business across multiple continents. Expanding its presence in South Asia, Hero has strengthened its presence in Sri Lanka with the launch of new bikes and scooters. Hero Launched New Bikes Bolstering its…
Vehicle imports to Sri Lanka have resumed following the lifting of the import ban on February 1, but high taxes continue to limit sales, market sources say. New vehicle importers are currently processing orders, and it typically takes about four to six months for a new vehicle to arrive. Importers are required to register imported…
Sri Lanka is ready to tax the digital services supplied by non-Sri Lankans from October 1. This was legalised by the certification of VAT (amendment) Act No. 4 of 2025. Inland Revenue Department said in a press release that procedures for registration, payment and compliance would be specified by the Commissioner General in due course….
China’s trade surplus with Sri Lanka surged to an all-time high of over US$4 billion (Rs. 1.195 trillion) in 2024, nearly doubling from the previous year and highlighting the growing imbalance in bilateral commerce. According to official data, Sri Lanka exported just US$251.91 million worth of goods to China in 2024 — a 2% decline…
From April 1, 2025, the withholding tax on interest from fixed deposits in Sri Lanka has been increased from 5% to 10%. However, the Inland Revenue Department (IRD) states that individuals whose total annual income is less than Rs. 1.8 million are eligible to claim a refund of the tax deducted on interest. To do…
