Telecommunication Levies

International Telecommunication Operators Levy (ITOL) on incoming calls will be increased US$ Cents 9 to US$ Cents 12.

 

Environmental Fee will be charged per tower at the rate of Rs.50, 000/- per annum.

 

Cess levied at 2% for international transit traffic will be exempted with effect from January 1, 2016.

Import Tax on Garments & Footware

The present composite tax imposed on (at the Custom point) sale of garments to the local market by export oriented companies [refers to in section 22(1) of the VAT Act] will be increased to Rs. 200 /- per piece.

The same rate will be extended to sale of footwear to the local market by export oriented companies.

The applicable rate for sale of fabric and cut pieces remains the same.

The sale of export quality products to the local market by export oriented BOI companies will be restricted to 5% of the total turnover and will be subjected to the tax at the rate specified above.

 

Surtax

Surtax will be imposed with effect from any Year of Assessment commencing from April 1, 2016, at the rate of 25% of the income tax liability of profit on business of Tobacco, Liqour and Betting and Gaming which were earlier subject to income tax at 40%.

Motor Vehicles Charges & Fine

Fine on Road Accidents

A fine of Rs 10,000/- will be imposed on person who is responsible on road accidents payable in case of road accidents. In addition the cost to the government property damage (if any) is also payable.

 

Vehicle Valuation Certificate Fee:

A fee on valuation certificates obtainable for finance facilities will be charged:

– Three wheeler/Motor Cycle – Rs.5,000/-

– All other vehicles – Rs.25,000/-

Effective date :  January 1, 2016.

 

Unregistered vehicles to be registered before 31/03/2016:

Such vehicles could be registered by paying the following fee to RMV:

– Cars/ Vans – Rs.01 Mn

– Other vehicles – Rs.0.75 Mn

 

Vehicle Entitlement fee:

A fee will be imposed in lieu of ‘Motor Vehicle Importers Registration fee’ with effect from January 1, 2016, payable to the Commissioner General of Inland Revenue before the opening of LCs at the

following rates:

Type Rate per vehicle

Motor Cycle/three wheelers- Rs.2,000/-

Motor Cars – Rs.15,000/-

 

Auctioning of Number Plate –

Unique lifetime Number will be subjected to an Onetime fee of Rs.2.50Mn

 

Emission Levy –

The levy is payable to the Divisional Secretariat at the point of renewal of annual license on every motor vehicle which is over 03 years at the rate of Rs 5,000/- per year.

 

Motor Vehicle Licence Fee will be revised with effect from January 1, 2016.

 

Luxury & Semi-Luxury Motor Vehicle Tax : [Amendment of PART II of the Finance Act No. 16 of 1995]

 

Luxury & Semi-Luxury Motor Vehicle Tax will be removed with effect from April 1,2016.