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ECONOMYNEXT - Sri Lanka will stop giving tax holidays under Board of Investment Law and limit it to breaks available under the Inland Revenue Act, Prime Minister Ranil Wickremesinghe said.
In the future only the Finance Ministry which is collecting revenue will give tax concessions," Prime Minister Wickremesinghe told reporters.
Suspending BoI tax breaks is believed to be a 'prior action' under a deal with the International Monetary Fund which is expected to be announced shortly.
- News Item
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If no tax holidays can we attract external investors to start export business in Sri Lanka ? He said concessions will be with limited facilities available in Inland rev act.
With this decision workload of BOI may go down drastically.
Some Asian countries offer Tax holidays.
In the future only the Finance Ministry which is collecting revenue will give tax concessions," Prime Minister Wickremesinghe told reporters.
Suspending BoI tax breaks is believed to be a 'prior action' under a deal with the International Monetary Fund which is expected to be announced shortly.
- News Item
...
If no tax holidays can we attract external investors to start export business in Sri Lanka ? He said concessions will be with limited facilities available in Inland rev act.
With this decision workload of BOI may go down drastically.
Some Asian countries offer Tax holidays.
