Published On: Mon, Jan 1st, 2018

3,400 million to be exempted from investment tax

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The government has decided to give investors 3450 million rupees to tax exporter in 2018 with the expectation of having a factory built with the North and East provinces all over the country.

Finance Minister Mangala Samaraweera said that 200% of the investments made in the Northern Province will be given 100% of the investments made in the Eastern Province.

The government has allocated Rs. 1120 million. Rs. 2000 million and 280 million reliefs for the development of industries in the fields of life insurance, IT business and renewable energy, the minister said.

50% tax concessions will be granted for the next 4 years to develop renewable energy.

The minister said that if a head of the institution is established internationally in Sri Lanka, a 03 year old exemption will be granted.

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3,400 million to be exempted from investment tax