The Director General of Customs has agreed to release 991 BYD vehicles currently held by Sri Lanka Customs, subject to several conditions, following proceedings before the Court of Appeal today (08).
The decision comes after consideration of a petition filed by John Keells CG Company challenging the detention of the vehicles.
As per the agreement, the petitioning company must deposit nearly Rs. 3.6 billion — calculated as the difference in taxes applicable to the vehicles — as a guarantee in a state bank. In addition, the company must agree to pay the interest accrued on that guarantee.
The Director General of Customs conveyed his consent to release the vehicles after the petitioning party accepted several of the conditions proposed during the hearing.
