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Saturday, 30 September 2017 - 14:25
Luxury vehicle tax : concessionary period ends in November
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The Department of Motor Traffic says that the 3-month concessionary period announced for luxury vehicle owners to settle taxes will end on 30th of November.

The Department said a concessionary period will not be extended again.

The Ministry of Transport in August announced a 3-month concessionary period for arrears payment on annual taxes for luxury, semi-luxury and semi-luxury dual purpose vehicles from September to November.

As per the Finance Act No 16 of 1995, an annual tax should be paid by the registered owner of the vehicle for seven years since its initial registration.

The first installment of these taxes is charged with the first registration of the vehicle by the Motor Traffic Department.

The remaining installments are charged when obtaining the annual insurance cover by the insurance firm and then it will be sent to the Treasury.

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