Sunday, 05 October 2014 - 12:59
Duty free vehicles for those paying taxes.
The Government is to offer more concessions for those paying more than 250 thousand rupees as tax annually in a fresh bid to raise revenue.
A senior Inland Revenue Department officer said accordingly, an extra tax rebate on duty free vehicles, extra discounts for early payments, special facilities at the airport and concessions on import of goods via the harbour are among the concessions which will be offered.
The current rebate of 15 per cent on import of duty free vehicles is to be increased to 25 per cent and will be applicable to all vehicles without limitations.
Currently the concession of 15 per cent is valid only for vehicles with an engine capacity of 1,600 cc or less.
Under the scheme those paying more than one million rupees as tax will be offered a gold card while those paying more than 500 thousand rupees will be entitled to a silver card.