BOI tax holidays to stay

Tuesday, 12 September 2017 00:00 - - {{hitsCtrl.values.hits}}

Tax holidays given to Board of Investment companies will not be abolished with the new Inland Revenue tax.

According to Deputy Treasury Secretary S.R. Attygalle, the Government has decided to honour the concessions given to companies for the remaining time period according to their agreements.

“It has been agreed between the Government and the BOI that they will stay,” Attygalle said.

State Minister for Finance Eran Wickramaratne said strategic development would become non-operative in keeping with the Government’s principle to move away from discretionary powers for the minister to decide on concessions. However, he said the Government will ensure that the undertakings given in the case of the Hambantota Port project would be met. (CD)