Tax holidays only for genuine investments; statement from Finance Minister

Sunday, 14 May 2017 - 14:09

Finance Minister Ravi Karunanayaka said that a 3 tiered corporate tax system will be introduced through the new Inland Revenue Draft Bill.

The Minister stated that highest percentage of tax will be charged from alcohol, tobacco and betting industries.

Also tax holidays will be awarded to companies focussed on commercial centres, IT related businesses, organic fertilizer production and construction of houses below 5 Million Rupees.


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