The government has approved tax concessions of up to 10 years for investments in strategic development projects across the tourism, manufacturing, and agriculture sectors.
According to reports, the relevant order was issued by President Anura Kumara Dissanayake in his capacity as Minister of Finance, Economic Stabilization and National Policies.
Under the new directive, tax incentives will apply to qualifying investments ranging from US$ 50 million to US$ 300 million.
The Ministry of Finance Sri Lanka said eligible projects must generate at least 50 local employment opportunities. It has also been proposed to grant corporate income tax exemptions for periods ranging from five to ten years, depending on the scale and nature of the investment.
In addition, tax concessions will be provided for the importation of capital goods and construction materials required to implement approved projects.
Authorities said the initiative is aimed at attracting large-scale investments, boosting employment, and accelerating economic growth in key productive sectors.
