{"id":163132,"date":"2016-05-28T23:49:45","date_gmt":"2016-05-28T18:19:45","guid":{"rendered":"https:\/\/www.colombotelegraph.com\/?p=163132"},"modified":"2016-05-28T23:51:21","modified_gmt":"2016-05-28T18:21:21","slug":"amidst-new-vehicle-tax-revision-ravi-ks-no-confidence-to-be-taken-up-next-month","status":"publish","type":"post","link":"https:\/\/www.colombotelegraph.com\/index.php\/amidst-new-vehicle-tax-revision-ravi-ks-no-confidence-to-be-taken-up-next-month\/","title":{"rendered":"Amidst New Vehicle Tax Revision, Ravi K\u2019s No Confidence To Be Taken Up Next Month"},"content":{"rendered":"

The no confidence motion against Finance Minister Ravi Karunanayake<\/span><\/a> is scheduled to be taken up for debate in Parliament in early June.<\/p>\n

\"Finance<\/a>

Finance Minister Ravi Karunanayake<\/p><\/div>\n

In March, the Joint Opposition handed over a no confidence motion with 37 signatures, on grounds that Karunanayake had misinterpreted facts about the economy and had also falsified information in the national budget presented in Parliament.<\/p>\n

The decision to hold the debate on Karunanayake\u2019s conduct comes just days after the government decided to increase the minimum unit tax for vehicles above 1000CC, which according to the Vehicle Importers\u2019 Association (VIA) would result in a huge blow to them as there will be a decrease in vehicle purchasing due to the new tax revision.<\/p>\n

With the new tax revision, the tax on a three wheeler alone comes to Rs. 400,000, while the tax on a\u00a0Toyota Prius which stood at Rs. 3.3 Million will increase to Rs. 7.2 million, while the tax on a Maruti Alto, which was Rs. 800 000 will increase to Rs. 1.2 million.<\/p>\n

The Value Added Tax was also revised in May from 11% to 15%.<\/p>\n","protected":false},"excerpt":{"rendered":"

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