Finance Act 2015 · As enacted · Part IX · Motor Vehicle Importers Licence Fee
30. Imposition of the Motor Vehicle Importers Licence Fee
Official English translation. Where it differs from the Sinhala or Tamil text, the Act itself says which text prevails.
Official translationFrom Department of Government Printing, unchanged
There shall be levied, for every year commencing on or after January 1, 2016, from every importer of motor vehicles, a fee to be called a Motor Vehicle Importers
Licence Fee (hereinafter in this Part referred to as “the fee”)
of rupees one million five hundred thousand per annum:
Provided however, any person who imports a motor vehicle for personnel use shall not be liable to pay the fee.
The ownership of a motor vehicle imported for personal use, in respect of which the fee was not paid under subsection (1), shall not be transferred to a second owner, for a period of four years from the date of the registration of such motor vehicle in the name of the importer, unless such importer proves to the satisfaction of the Commissioner
General of Motor Traffic that there is no commercial purpose involved:
Provided however, the transfer of ownership of such motor vehicle to any bank licensed under the Banking Act,
No. 30 of 1988 or to any finance company licensed under the Finance Business Act, No. 42 of 2011 or to any finance leasing establishment registered under the Finance Leasing
Act, No. 56 of 2000, as a security for a hire purchase agreement or a finance lease agreement, entered into by the importer with such bank, finance company or finance leasing establishment in respect of such motor vehicle shall not be deemed to be a transfer of ownership for the purposes of this section.
The fee shall be paid, for every year commencing on or after January 1, 2016 on or before the thirty first day of
December of the year preceding the relevant year.
The fee shall be collected by the Commissioner General of Motor Traffic, in the prescribed manner and shall be remitted to the Consolidated Fund within fifteen days from the date of collection.
The provisions which may be necessary for the implementation of the provisions of this Part shall be prescribed by regulations made under this Act.
Part X