The Department of Motor Traffic has mandated that all vehicles imported into Sri Lanka must be registered within 90 days of arrival. Failure to comply with this regulation will result in significant penalties for importers.
Suppose a vehicle is not registered within the stipulated period, In that case, the importer will be required to pay an additional 45% of the vehicle’s cost, including insurance and shipping charges, along with a late registration fee at the time of registration.
Furthermore, if an importer fails to register 25% of their total imported vehicles within 90 days over a six-month period, their vehicle import license will be suspended for 36 months, according to an official from the Ministry of Finance, Economic Stabilization, and National Policies.
The official stated that this measure aims to safeguard the country’s foreign exchange reserves.
