Sri Lanka, Jan. 21 -- January 21 (LBO) - Sri Lanka has earned LKR 904 billion (approx. US$3bn) from vehicle import taxes in 2025. This figure is a massive upside surprise over the 441 billion rupees stated as expected by Deputy Economic Development Minister Nishantha Jayaweera.

In 2026, analysts expect tax revenues from vehicle imports to drop significantly unless import duties are reduced. Reduction in import duties could be necessary in order to generate revenue to keep budgetary ratios in line with IMF targets.

Published by HT Digital Content Services with permission from Lanka Business Online....