Published On: Wed, Aug 23rd, 2017

The new Act of Inland Revenue Act provides relief to industrialists

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The government has decided to provide relief to industrialists in the year 2017, said development strategy minister and international trade minister Malik Samarawickrama in parliament today (22).

The Minister said that the proposals submitted by the industrialists to submit their proposals to local industrialists will be presented on a daily basis.

Responding to questions raised by Bandula Gunawardena, MP Samarawickrama said that the government rejected the new Bill by discouraging the gem and jewelery industry.

Lakshman Kiriella, Minister of Higher Education and Highways, stated that the Inland Revenue Draft Bill has been adjourned for 25 days while the voting will be held on a different date.

The government has decided to grant tax concessions to gem and jewelery industry workers, said Malik Samarawickrama.

Local Revenue Bill to be adopted on the 25th of April will be in force from April 2017 and the draft was presented to the Parliament on June 19 and it was presented to the Parliament on the 5th of July.

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The new Act of Inland Revenue Act provides relief to industrialists