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Following the new budget proposals taxes on vehicles would increase by 20 percent, the Chairman of Lanka Vehicle Importers' Association Mahinda Sarathchandra said today.“This will include the condition of the vehicle as well,” he said.
“The tax would be increased with the addition of Customs Valuation, which increased on November 18, 2015; Customs Duty, which increased on November 20, 2015 and the currency rate fluctuation,” he said.