Business
CMTA calls for urgent recall of vehicle valuation and import processes
The Ceylon Motor Traders Association (CMTA) has highlighted the fact that Sri Lanka’s vehicle import framework requires urgent recalibration to ensure fairness, transparency, and the protection of state revenue. The CMTA states that one of the most critical issues that must be addressed is the automatic 15 per cent reduction applied to the CIF value of used vehicle imports when calculating import duties. The CMTA maintains that duty calculations should be applied uniformly across all importers, whether the vehicle is brought in through an authorised agent as brand new or through a dealer as a used import.
For example, if an authorised agent imports a 2026 zero-mileage vehicle of a particular brand at a CIF value of USD 50,000, the full value is used for duty assessment. However, if a dealer imports the exact same 2026 model, also zero mileage and identical in specification, but registered and subsequently de-registered prior to shipment, the CIF value for duty purposes is reduced by 15% to USD 42,500. This concession is granted solely because the vehicle is technically classified as “used” due to prior registration, despite there being no practical difference in mileage, condition, or specification between the two vehicles.
The CMTA believes this practice creates a structural imbalance in the market and results in a significant erosion of import duty revenue to the State. When two identical zero-mileage vehicles are assessed at different CIF values purely on the basis of a procedural registration classification, it distorts competition, disadvantages compliant authorised agents, and undermines equitable tax collection. The Association therefore calls for a uniform valuation approach that reflects the true transacted value of the vehicle, regardless of its registration status prior to export.
Compounding this issue is the widespread application of a 15% depreciation adjustment, which further distorts declared values. When combined with under-declared transaction prices and manipulated valuations, duty is calculated on figures that are significantly lower than actual market value. These reduced values are then reflected across various online platforms and price-tracking websites, creating a distorted reference market that reinforces undervaluation and normalises non-compliant pricing behaviour.
One of the most pressing issues confronting the State is the growing misuse of VAT-free trade-ins which certain car sales are supposed to be practicing within the used vehicle business. These transactions, often structured as vehicle-for-vehicle or vehicle-for-asset exchanges in selling an unregistered vehicle and bypass standard VAT mechanisms and obscure the true transacted value of imports. Such practices often allow vehicles to enter the market with lower invoice values, directly impacting the calculation of import duties and other applicable taxes.
The absence of structured, enforceable processes to accurately define and verify transacted value has created an environment where valuation practices vary widely and lack accountability. Evaluations are frequently conducted at lower price points that do not reflect genuine purchase consideration, enabling systemic revenue leakage for the Government. While mechanisms exist in principle to address these discrepancies, their inconsistent application has rendered them ineffective.
Vehicle imports through CMTA members which operate within clearly defined and auditable frameworks, demonstrate that transparent valuation and predictable tax collection are both achievable and sustainable. These channels provide the State with accurate invoicing, traceable foreign currency outflows, and reliable duty and VAT collection, while limiting the scope for malpractices.
The CMTA believes that consumer safety cannot exist in isolation. The association believes that authorities have a responsibility to ensure that all businesses within the automotive industry operate ethically and within the law. When certain segments of the market are permitted to circumvent regulation, consumer safety is compromised and businesses committed to lawful operations and sustained customer support are placed at an unfair disadvantage.
Therefore, the association urges the relevant authorities to rigorously enforce existing laws and regulations to mitigate malpractices and ensure a level playing field for all participants in the industry and ensure proper collection of tax revenue for the nation. Fair enforcement will not restrict consumer choice; it will enhance it by promoting transparency, safety, and accountability across the market.(CMTA).
The launch of a dedicated wildlife unit at Mattala Rajapaksa International Airport is expected to deliver significant economic benefits by improving aviation safety, strengthening eco-tourism and enhancing Sri Lanka’s investment appeal, Wildlife Conservation Department Director General Ranjan Marasinghe said.
Speaking at the signing of a Memorandum of Understanding between the Department of Wildlife Conservation and Airport and Aviation Services (Sri Lanka) Limited, Marasinghe said the initiative links conservation directly with national development and revenue generation.
“This is more than an administrative step—it is a forward-looking initiative that aligns conservation, aviation safety and national development in a single strategic effort,” he said.
He noted that wildlife management at airports is globally recognised as essential for reducing bird strikes and wildlife-related disruptions, which can lead to costly repairs, delays and operational losses.
By proactively managing such risks, the Mattala Wildlife Unit is expected to lower potential costs for airlines and airport operators while improving efficiency and confidence among carriers considering future operations.
Marasinghe said the airport’s proximity to premier tourism destinations such as Yala National Park and Udawalawe National Park, together with marine tourism opportunities including Blue Whale watching, gives Mattala a strong commercial advantage.
“This convergence of aviation and wildlife tourism creates an extraordinary opportunity,” he said, adding that the airport has the potential to become a major gateway for high-value eco-tourism.
Industry observers note that wildlife tourists generally spend more on guided safaris, hotels, transport and local experiences, generating stronger foreign exchange earnings and employment opportunities for surrounding communities.
Marasinghe said integrating environmental standards into airport operations would also improve Sri Lanka’s global image at a time when investors and international travellers increasingly value sustainability.
“By integrating environmental considerations into airport operations, we position Sri Lanka more favourably on the global stage, demonstrating that we are a nation committed to sustainability, responsibility and innovation,” he said.
He expressed hope that the Mattala model would be replicated at other international airports, creating long-term savings, stronger environmental governance and wider economic returns.
The Director General said the Department of Wildlife Conservation remains committed to supporting the national economy through new and meaningful avenues while protecting Sri Lanka’s natural assets.
“Conservation must also contribute to development,” he said, stressing that protecting biodiversity and generating growth can go hand in hand.
By Ifham Nizam
Aitken Spence Elevators, in collaboration with CINEC Campus, recently held the Certificate Awarding Ceremony for the latest batch of trainees of the Elevator Serviceman Course at the Elevator Training Centre (ETC). The graduates were awarded their NVQ Level 3 certifications, marking a significant milestone in their professional journey within Sri Lanka’s vertical transportation industry.
The certification programme was developed in partnership with the National Apprentice and Industrial Training Authority (NAITA) and the Ministry of Vocational Training & Skills Development, ensuring trainees received industry-recognised qualifications, alongside strong practical competencies. The ceremony was attended by directors of both Aitken Spence and CINEC Campus, as well as staff members, lecturers, and invited guests of the graduating students
Anuka Prashan Pieris was recognised as the Most Outstanding Student of the batch in appreciation of his exceptional performance and commitment throughout the programme. The Elevator Training Centre plays a vital role in addressing the growing demand for skilled elevator service technicians through structured training and hands-on learning. The facility features Sri Lanka’s first Elevator Training Tower, offering trainees practical exposure aligned with both local and international standards.
All graduates of the current batch have already commenced their careers as technicians and supervisors at Aitken Spence Elevators. Their seamless transition into the workforce reflects the programme’s strong emphasis on developing job-ready professionals capable of contributing effectively from day one.
COLOMBO, SRI LANKA– Sterling Steels (Pvt) Ltd, a premier manufacturer of high-quality globally renowned steel roofing & cladding, announced it has been honored with a prestigious Merit Award at the Sri Lanka Institute of Architects (SLIA) Annual Product Awards 2026. The national recognition was awarded in the highly competitive Zinc-Aluminium Coated Profile Steel Sheet category, underscoring the company’s dedication to excellence, innovation, and superior quality in the Sri Lankan construction industry.
The award was presented during a grand ceremony held at the esteemed Nelum Pokuna Theatre, a key event in the nation’s architectural and construction calendar. The SLIA Annual Product Awards are widely regarded as a benchmark for quality and design excellence, with products rigorously evaluated by a panel of distinguished architects and industry experts. Receiving this Merit Award positions Sterling Steels among the top-tier suppliers of building materials in the country.
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