ECONOMYNEXT – Sri Lanka’s Cabinet of Ministers has approved to go ahead with amendments to the island nation’s Strategic Development law, a government document showed, in a move to provide tax incentives for large projects amid restrictions by the IMF. The International Monetary Fund (IMF) has said tax incentives have been a reason for lower government revenue in the past. The cabinet has approved to print the gazette on the amendments which have been already cleared by the Attorney General and tabled in parliament, the government said in its cabinet decision. President Anura Kumara Dissanayake’s government has been in discussions…
Sri Lanka amends Strategic Development Act to provide tax incentives
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