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International companies exempt from corporate tax if relocating
Nov 10, 201604:19 PM
The major international companies who are willing to relocate their headquarters to Sri Lanka will be exempt from corporate tax, the Finance Minister said.
“The ministry of development strategies and international trade will recommend to the general Treasury for approvals on any intensives that will be provided to landmark investment for country. The government is committed in pursuing economic policy that would ensure the creation of wealth, and equal distribution of incomes,” he said.
“I propose to grant a 200 per cent capital allowance for businesses which would make investments in the Northern Province and a 100 per cent capital allowances for businesses which invest in the Uva and Eastern provinces,” he added.
