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The Vehicle Importers Association of Sri Lanka (VIASL) has warned that vehicle prices are likely to increase from 1 April 2026, following changes introduced in the 2026 Budget regarding the Social Security Contribution Levy (SSCL).
Under the new rules, a 2.5% SSCL will be collected at the port at the time of vehicle release, including for individual buyers. Vehicles cleared before 31 March will not be impacted, while those cleared from 1 April onward will face the new levy.
The association also noted that global market factors may influence prices. In particular, several countries have eased import restrictions, driving up demand for vehicles in Japan, which could raise auction and import costs.
Officials clarified that the SSCL is not a new tax, but its collection at import represents a shift in timing that may affect landed costs. Exact retail price adjustments will depend on dealer pricing and market conditions.
