News
Commercial importers ordered to register 25 percent of vehicles within six months of receiving shipment
The Ministry of Finance has ordered importers to register at least 25% of the total number of vehicles they import within a six-month period. Failure to adhere to this requirement will result in the suspension of the importer’s import permit, according to an official statement from the Ministry.
This new measure has been introduced to protect the country’s foreign exchange reserves, curb excessive vehicle imports, and prevent the unnecessary accumulation of motor vehicles. However, the regulations do not apply to individuals importing vehicles for personal use, as they are permitted to import only one vehicle, the Ministry clarified.
The regulations were discussed during a recent meeting of the Committee on Public Finance (COPF) regarding vehicle imports. At the meeting, Controller General of Imports and Exports, Upulmali Premathilaka, provided further details on the new rules.
“In 2020, vehicle imports were temporarily suspended. Following a Cabinet decision and observations made by the Central Bank, a gazette notification was issued to lift this suspension. As a result, the gazette has now been published, allowing vehicle imports into Sri Lanka under HS Code 8703,” she explained.
Premathilaka also highlighted that imported vehicles must be registered within 90 days. Failure to do so will incur a fine of 3% of the CIF (Cost, Insurance, and Freight) value, with the penalty capped at a maximum of 45% of the CIF value.
“Furthermore, if importers fail to register 25% of their imported vehicles within six months, their import permits will be suspended. The permission granted for vehicle imports under these conditions will also be revoked,” she added. The new regulations aim to strike a balance between facilitating necessary vehicle imports and safeguarding the country’s economic stability by preventing the over-importation of vehicles.
The Cabinet of Ministers has approved the proposal presented by the Minister of Transport, Highways, and Urban Development to award the contract for printing and supplying vehicle number plates for the Department of Motor Traffic for a period of five (5) years to M/s South Asian Technologies based on the recommendations of the High-Level Standing Procurement Committee and the Procurement Appeal Board.
The National Lotteries board has been established subject to the Finance Act No. 11 of 1963. Having identified the requirement of amending that act which was imposed around 62 years to cater the current requirements of the lottery market, the Cabinet of Mnisters at their meeting held on 14.02.2017 granted approval to draft a new bill for the purpose.
Accordingly, the National Lotteries Board has recognized further amendments to be performed to the fundamental draft bill prepared by the Legal Draftsmen.
Therefore, the Cabinet of Ministers granted approval for the
resolution furnished by the President in his office as the Minister of Finance, Planning and Economic Development to direct the Legal Draftsmen to finalize the formulation of the draft bill for the National Lotteries Board as soon as possible including the proposed new amendments as well.
The Werahara office of the Department of Motor Traffic performs issuance of temporary driving licenses in this country based on the driving licenses issued overseas, and measures have been initiated to render the service from a service window of the Department of Motor Traffic established at the Bandaranayake International Airport from 03.08.2025.
The fees charged for issuing temporary driving licenses have been published in Motor Vehicles (Driving License Levy) Regulations No. 3 of 2022 prepared under the provisions of the Motor Traffic (Authority 203) Act.
But, as the fee of Rupees 2,000/- charged for the service is not sufficient, the requirement of amending the regulations has been recognized.
The regulations for introducing the revised fees have been published in the government extraordinary gazette
notification No. 2463/04 dated 17.11.2025. Therefore, the Cabinet of Ministers granted approval to the resolution furnished by the Minister of Transport, Highways and Urban Development to
submit the regulations to the Parliament for its concurrence.
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