April 21, Colombo (LNW): President of the Vehicle Importers Association of Lanka (VIAL) Indika Sampath Merinchige has advocated for an expansion of the allowance for importing used vehicles alongside new ones, urging the government to consider extending the time-frame for such imports.
Merinchige stressed the importance of extending the current three-year time-frame for importing used vehicles to seven years or beyond.
This extension would enable importers to provide vehicles at more affordable prices compared to new ones, addressing the demand for cost-effective transportation solutions in the market, he emphasised.
Furthermore, Merinchige highlighted that allowing the importation of vehicles aged seven years or older would not adversely impact government tax revenue.
This assertion aims to raise concerns regarding potential revenue losses while emphasising the benefits of facilitating access to a wider range of vehicles for consumers.
