1. What is Vehicle Import Cost Calculation?

The vehicle import cost calculation estimates the total cost of importing a vehicle to Sri Lanka, including all applicable taxes and duties. It's based on the CIF (Cost, Insurance, Freight) value of the vehicle plus various percentage-based charges.

2. How Does the Calculator Work?

The calculator uses the following formula:

Where:

• \( CIF \) — Cost, Insurance and Freight value (USD)
• \( Duty \) — Customs duty rate (%)
• \( Excise \) — Excise duty rate (%)
• \( VAT \) — Value Added Tax rate (%)
• \( Other \) — Other applicable charges (%)

Explanation: The calculation adds all percentage-based charges to the base CIF value to determine the total landed cost of the vehicle.

3. Importance of Import Cost Calculation

Details: Accurate import cost estimation is crucial for budgeting when importing vehicles, understanding total financial commitment, and comparing costs between different import options.

4. Using the Calculator

Tips: Enter CIF value in USD, all tax rates as percentages. Current rates can be obtained from Sri Lanka Customs. Other charges may include port fees, handling charges, etc.

5. Frequently Asked Questions (FAQ)

Q1: What exactly is CIF value?
A: CIF stands for Cost, Insurance, and Freight - the price of the vehicle plus insurance and shipping costs to Sri Lankan port.

Q2: Are tax rates the same for all vehicles?
A: No, rates vary by vehicle type (car, van, truck), engine capacity, fuel type, and age of the vehicle.

Q3: How often do tax rates change?
A: Rates can change with government budget announcements. Always verify current rates with Sri Lanka Customs.

Q4: Are there additional costs not included here?
A: Yes, registration fees, license fees, and possible luxury taxes may apply depending on the vehicle value.

Q5: Can I use this for used vehicles?
A: Yes, but additional depreciation factors may apply to the CIF value for used vehicles.