Sri Lanka will not be able to reduce vehicle taxes in 2025, according to Duminda Hulangamuwa, economic advisor to President Anura Kumara Dissanayake.

Accordingly, Hulangamuwa explained that the agreement with the International Monetary Fund (IMF) prevents any tax reductions for vehicles this year.

He also stated there would be no change in vehicle prices, emphasizing that the Government is on track to meet its revenue target of Rs. 300 – Rs. 350 billion from vehicle taxes.

he noted it was too early to confirm progress, as taxes are only paid when vehicles are cleared, and the import process began in February.