Ajith Nivard Cabraal, Minister of State for Finance, Capital Markets and State Enterprises, said in Parliament today (3) that Sri Lankans working abroad would be given a one-year grace period to send a vehicle they want to Sri Lanka after paying taxes on the dollars they earn.
He said this when asked if there is a possibility of implementing such a program by Colombo District MP Attorney-at-Law Premanath Dolawatta.
He said that the country was facing an unnatural situation with Kovid and that steps would be taken to overcome all these challenges and provide maximum relief to all parties.
Mr. Cabraal acknowledged that a number of sectors, including the automotive sector, were facing various problems in the current situation.
Speaking at the event Mr. Premanath Dolawatta said that if the country's heroes buy vehicles with the dollars earned in that country and send them to Sri Lanka after paying taxes, there will be no outflow of Sri Lankan currency.
He added that this will further strengthen the country's foreign exchange reserves.
Mr. Dolawatta also pointed out that the prices of vehicles in the country have increased unnaturally.