With the new tax schemes introduced by the budget 2015 presented to Parliament by President Mahinda Rajapaksa yesterday,  Funeral car tax will down from 201.67 percent to 172.50 percent under new import tax scheme for motor vehicles

Meanwhile,  Motor Vehicle Importers Association on Saturday said that hybrid tax would be reduced by 2% and less than 1000cc petrol vehicle by 29% to 172%. 

 Following the new tax; maximum of 15% tax will be imposed on Hybrid electric vehicles and zero tax on modified vehicles  coming under sports category.

Meanwhile, Duty on electric-powered cars was reduced to 25%, down from 61%, by President Mahinda Rajapaksa in his budget proposals for 2015. 

 A special tax scheme for motor vehicle imports was imposed by the budget instead of the old system. President Rajapaksa further added that the government would be able to collect additional Rs. 5 billion by streamlining vehicle import taxes. 

The Budget, which was the 10th of President Mahinda Rajapaksa, was presented to Parliament just two months away from a crucial presidential election.