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ஜெனரல்
| Gazette Number | Date | Project | Company | Tax | Details of Concession |
| 1700/4 | April - 5-11 | Build a Luxury Hotel as a Mixed Use Complex including High Quality Residencies and a High- End Shopping Mall, in Fort Colombo 1. | Shangri- La Investments Lanka (Private) Limited | Corporate Income Tax | A 10 year corporate income tax holiday period under the Inland Revenue Act No.10 of 2006 commencing from either the first year in which the Company makes a taxable profit or three (03) years after commencement of commercial operations, whichever falls first and subsequently a concessionary rate of 6% for 15 years. |
| Personal Income Tax | Dividends received by shareholders are exempted for 10 years. A maximum of 20 Expatriate staff members are exempted from PAYE for 5 years. The Company shall be exempted from the payment of Withholding Tax on interest on foreign loans for capital expenditure, technical fees to consultants and on management fees, royalty payments, and marketing fees. Provided these payments are made to one of the following subsidiaries of Shangri-La Asia Limited. * Shangri-La International Hotel Management Ltd. — | ||||
| The port and airport development levy | Exempted during the project construction period. | ||||
| Customs Ordinance | Importation of project-related goods and the local purchases of project-related goods and services during the project Construction period. | ||||
| Value Added Tax ( VAT) | Excluded for the importation of project-related goods and the local purchases of project-related goods and services during the project Construction period. | ||||
| 1700/5 | April - 5-11 | LuxuryHotel and Residential Units / Villas in Hambantota in the Southern Province. | Shangri- La Investments Lanka (Private) Limited | Corporate Income Tax | A 10 year corporate income tax holiday period under the Inland Revenue Act No.10 of 2006 commencing from either the first year in which the Company makes a taxable profit or three (03) years after commencement of commercial operations, whichever falls first and subsequently a concessionary rate of 6% for 15 years. |
| Personal Income Tax | Dividends received by shareholders are exempted for 10 years. A maximum of 20 Expatriate staff members are exempted from PAYE for 5 years. The Company shall be exempted from the payment of Withholding Tax on on interest on foreign loans for capital expenditure, technical fees to consultants and on management fees, royalty payments and marketing fees. Provided these payments are made to one of the following subsidiaries of Shangri-La Asia Limited. * Shangri-La International Hotel Management Ltd. | ||||
| The port andairport development levy | Exempted during the project construction period | ||||
| Custome Ordinace | Importation of project related goods and the local purchases of project related goods and services during the project Construction period. | ||||
| VAT | Excluded for the importation of project-related goods and the local purchases of project-related goods and services during the project Construction period. | ||||
| 1789/22 | Dec-15-12 | Construct and operate a 475 roomed city hotel with 90 Serviced Apartments at No. 116, Galle Road, Colombo 03 | Sinolanka Hotels and Spa (private) Limited | Corporate Income Tax | A 10 year corporate income tax holiday period under the Inland Revenue Act No.10 of 2006 commencing from either the first year in which the Company makes a taxable profit or three (03) years after commencement of commercial operations, whichever falls first and subsequently a concessionary rate of 6% for 15 years. |
| Personal Income Tax | Dividends received by shareholders are exempted for 10 years. A maximum of 20 Expatriate staff members are exempted from PAYE for 5 years. The Company shall be exempted from the payment of Withholding Tax on on interest on foreign loans for capital expenditure, technical fees to consultants and on management fees, royalty payments and marketing fees. Provided these payments are made to one of the following subsidiaries of Hyatt International South West Asia Ltd. Hyatt International Corporation | ||||
| Ports and Airport Development Levy | Exempted on all imports sourced during the project implementation period | ||||
| Customs Ordinance | Exempted from customs duty during the project implementation period | ||||
| VAT | Excluded for the importation of project related goods and the local purchases of project related goods and services during the project implementation period. | ||||
| 1788/03 | Oct-1-2012 | Project to set up a mixed development project, at Transworks Square land, Colombo - 01 | Krish Group of India | Corporate Income Tax | 10 Year Tax free and 15 on a concessionary rate |
| Personal Income Tax | Dividends received by shareholders are expemted for 10 years. A maximum of 20 Expatriate staff members are exempted from PAYE for 5 years. The Company shall be exempted from the payment of Withholding Tax on on interest on foreign loans for capital expenditure and technical fees to consultants | ||||
| Ports and Airport developemnt Levy | Exempted during project implementation period | ||||
| Customs Ordinance | Exempted on all imports sourced during the project implementation period | ||||
| VAT | Excluded for importation of project related goods and the local purchases of project related goods and services during the project implementation period. | ||||
| Finance Act No 5 of 2005 | Exempted from the payment of construction under the Gurantee Fund Levy | ||||
| 1782/28 | Oct-31-2012 | The Notification which identified the Project to construct, build and operate a Mixed Utility Complex including a luxury hotel at Fort, Colombo 01 in the Western Province, | WelcomHotels Lanka (Private) Limited | Corporate Income Tax | A 10 year corporate income tax holiday period under the Inland Revenue Act No.10 of 2006 commencing from either the first year in which the Company makes a taxable profit or three (03) years after commencement of commercial operations, whichever falls first and subsequently a concessionary rate of 6% for 15 years. |
| Personal Income Tax | Dividends received by shareholders are exempted for 10 years. A maximum of 20 Expatriate staff members are exempted from PAYE for 5 years. The Company shall be exempted from the payment of Withholding Tax on interest on foreign loans for capital expenditure and technical fees to consultants | ||||
| Ports and Airport developemnt Levy | Exempted during project implementation period | ||||
| Customs Ordinance | Exempted on all imports sourced during the project implementation period | ||||
| VAT | Excluded for importation of project related goods and the local purchases of project related goods and services during the project implementation period. | ||||
| Finance Act No 5 of 2005 | Exempted from the payment of construction under the Gurantee Fund Levy during the project implementation period. | ||||
| 1796/9 | Feb-06-2013 | The project for Development, operation and management of a special zone for heavy industries inter-alia sourcing and establishing other Board of Investment of Sri Lanka approved projects at Sampor area of Trincomalee. | Sri Lanka Gateway Industries (Private) Limited | Corporate Income Tax | A 25 year income tax-free holiday will commence from either the first year in which the Project Company makes a taxable profit or from two (02) years after commencement of commercial operations, whichever falls first. |
| Personal Income Tax | Dividends received by shareholders are exempted for 25 years. A maximum of 20 Expatriate staff members are exempted from PAYE for 5 years. The Company shall be exempted from the payment of Withholding Tax on interest on foreign loans for capital expenditure and technical fees to consultants | ||||
| Ports and Airport development Levy | Shall not be applicable on the importation of project related capital and construction goods and the local purchases of project related capital goods during the project implementation period of 07 years. | ||||
| Customs Ordinance | All capital goods imported in the name of the project shall be exempted from the Customs Duty | ||||
| VAT | Shall not be applicable on the importation of project related capital and construction goods and the local purchases of project related capital goods during the project implementation period of 07 years. | ||||
| NBT | Shall not be applicable on the importation of project related capital and construction goods and the local purchases of project related capital goods during the project implementation period of 07 years. | ||||
| 1832/22 | Oct-17-2013 | Project to set up a refinery to import raw sugar for refining and sale in the local market and export in the Free-Port Area of the Hambantota Port in the Southern Province. The Project shall commence commercial operations within Seven (07) years from the date of the Project Agreement signed with the Board of Investment of Sri Lanka on 7th February 2013 | Lanka Sugar Refinery Company (Private) Limited | Corporate Income Tax | A 10 year income tax-free holiday will commence from either the first year in which the Project Company makes a taxable profit or from two (02) years after commencement of commercial operations, whichever falls first. |
| Personal Income Tax | Dividends received by shareholders are exempted for 10 years. A maximum of 20 Expatriate staff members are exempted from PAYE for 5 years. The Company shall be exempted from the payment of Withholding Tax on interest on foreign loans for capital expenditure and technical fees to consultants | ||||
| Ports and Airport developemnt Levy | Shall not be applicable on the importation of project related capital and construction goods and the local purchases of project related capital goods during the project implementation period of 07 years. | ||||
| Customs Ordinance | All capital goods imported in the name of the project shall be exempted from the Customs Duty | ||||
| VAT | Shall not be applicable on the importation of project related capital and construction goods and the local purchases of project related capital goods during the project implementation period of 07 years. | ||||
| NBT | Shall not be applicable on the importation of project related capital and construction goods and the local purchases of project related capital goods during the project implementation period of 07 years. | ||||
| Finance Act No 12 of 2012 | The project shall be exemped from customs duty under the Imports and Exports ( Control ) Act No. 1 of 1969 and Special Commodity Levy on import of raw materials under the Special Commodity Levy Act No.48 of 2007. | ||||
| 2224/02 | Apr-19-2021 | “Dedicated Pharmaceutical Manufacturing Zone” ( in an area of 400 acres of land owned by the Board of Investment of Sri Lanka in Hambantota-Arabokka area in two phases | Individual enterprises identified by the BOI as falling within the purview of the Strategic Development Project identified. | Corporate Income Tax | For Income generated through exports (including deemed exports) and import substitution via sales to the local market will be exempted for a minimum of five (05) years up to a maximum of ten (10) years from the year in which the enterprise commences to make profits or any year of assessment not later than 02 years reckoned from the date on which such enterprise commences commercial operations, whichever falls first. |
| Personal Income Tax | A maximum of 20 Expatriate staff members are exempted from PAYE for 5 years.WHT will be exempted for payments on foreign loans for capital expenditure and technical fees to consultants | ||||
| Ports and Airport development Levy | All imports of construction related items, capital goods and raw materials receive exemption | ||||
| Custom Ordinance | All imports of construction related items, capital goods and raw materials receive exemption | ||||
| VAT | All imports of construction related items, capital goods and raw materials receive exemption | ||||
| CESS | All imports of construction related items, capital goods and raw materials receive exemption | ||||
| 2224/09 | Apr-20-2021 | “Dedicated Textile Manufacturing Zone” in an area of up to 400 acres of land to be owned by the Board of Investment of Sri Lanka in Eravur, Batticaloa District | Individual enterprises identified by the BOI as falling within the purview of the Strategic Development Project identified. | Corporate Income Tax for income generated through exports and imports substitution by selling in the local market. | The tax exemption period is a minimum of 5 years and a maximum of 10 years and varies depending on the number of employmees. The exemption period will commence 18 months from the date the agreement is finalised with the BOI. |
| Personal Income Tax | A maximum of 10 Expatriate staff members are exempted from PAYE for 5 years.WHT will be exempted for payments on foreign loans for capital expenditure and technical fees to consultants | ||||
| Ports and Airport developemnt Levy | All imports of construction related items, capital goods and raw materials receive exemption | ||||
| Custom Ordinance | All imports of construction related items, capital goods and raw materials receive exemption | ||||
| VAT | All imports of construction related items, capital goods and raw materials receive exemption | ||||
| CESS | All imports of construction related items, capital goods and raw materials receive exemption | ||||
| 1796/08 | Feb-06-2013 | Establish a branch campus of University of Central Lancashire at the Mirigama Export Processing Zone, in the Western Province. Exemptions are operative from 31st dec 2012 | UCLAN Lanka (Private) Limited | Corporate Income Tax | Tax exemption for a period of 15 years under the Inland Revenue Act No.10 of 2006 ,followed by a concessionary tax rate of 25% for a period of 10 years |
| Personal Income Tax | Dividends received by shareholders will be exempted for 15 years. A maximum of 20 Expatriate staff members are exempted from PAYE for 5 years. The Company shall be exempted from the payment of Withholding Tax on interest on foreign loans for capital expenditure and technical fees to consultants | ||||
| Ports and Airport development Levy | Items imported for implementing the Project will be exempted during the project implementation period of 10 years | ||||
| Custom Ordinance | Imported/local purchases of Project related items and materials required for the Project in the name of the Project Company will be exemted | ||||
| VAT | Importation of project related goods and the local purchases of Project related goods and services, including the payments payable to sub contractors approved by the Project Company shall not be applicable during the Project Implementation period shall be exempted from VAT | ||||
| Finance Act No 5 of 2005 | Exempted from the Guarantee fund levy for 7 years from the Effective date as per the Project Agreement | ||||
| ESC | Exempted frm the ESC for the tax holiday period of 15 years. | ||||
| 1846/51 | Jan-24-2014 | Development of Colombo Port City in two phases for the construction of wave protection breakwater, land reclamation, ground improvement, revetment, canals to connect seawater, artery roads and utilities | CHEC PORT CITY COLOMBO (PRIVATE) LIMITED | Corporate Income Tax | A 25 year tax exemption period will commence from either the first year in which the Project Company makes a taxable profit or from 06 years after commencement of commercial operations, whichever falls first. |
| Personal Income Tax | Dividends received by shareholders will be exempted for 25 years plus one year. A maximum of 30 Expatriate staff members are exempted from PAYE for 10 years. The Company shall be exempted from the payment of Withholding Tax on interest on foreign loans taken for capital expenditure and on technical fees paid to consultants ,on management fees and royalty payments provided however that total of such charges does not exceed three per centum (3%) of the gross operating revenue .on marketing fees | ||||
| The port and airport development levy | Exempted during the project implementation period of 8 years | ||||
| Custome Ordinace | All project related items in capital nature will be exempted during the project implementation period of 08 years. | ||||
| VAT | The importation of project related goods and services and the local purchases of project related goods and services during the Project Implementation Period of eight (08) years shall be exempted The deferment as permitted in the VAT Act shall be applicable not only for direct supplies to the Project Company but also for supplies made to a contractor or by a sub-contractor to a contractor. | ||||
| Finance Act No 5 of 2005 | Exempted from the payment of Construction Industry Guarantee Fund Levy to the contractor/s and subcontractor's of the Project Company | ||||
| NBT | Exempted for 8 years of the project implementation period | ||||
| Excise Duty | Import of project related items as approved by the Board of Investment of Sri Lanka shall be exempted during the project implementation period of eight (08) years | ||||
| CESS | Import of project related items as approved by the Board of Investment of Sri Lanka shall be exempted during the project implementation period of eight (08) years | ||||
| 2184/15 | July-15-2020 | Colombo International Financial Centre Mixed Development Project, to construct five vertical Iconic Towers at the Port City Premises to be subleased to CHEC Port City Colombo | Corporate Income Tax | Income tax on profits generated from activites excluding the sale of apartments shall be excluded for 15 years and profits generated from sale of apartments shall be excluded for 6 years. The tax exemption period will be followed with a tax concessiary period for 10 years for activities excluding the sale of apartments and 6 years for the income generated from the sale of apartments | |
| Personal income Tax | Dividends received by shareholders will be exempted for 15 years plus one year. A maximum of 30 Expatriate staff members are exempted from PAYE for 10 years. The Company shall be exempted from the payment of Withholding Tax on management fees and royalty payments provided however that total of such charges does not exceed three per centum (3%) of the gross operating revenue, on marketing fees provided however the total of such fees does not exceed one point five per centum (1.5%) of the gross op | ||||
| Custome Ordinace | All project related items in capital nature will be exempted during the project implementation period of 08 years. | ||||
| VAT | The importation of project related goods and services and the local purchases of project related goods and services during the Project Implementation Period of 08 years shall be exempted .The deferment as permitted in the VAT Act shall be applicable not only for direct supplies to the Project Company but also for supplies made to a contractor or by a sub-contractor to a contractor. | ||||
| NBT | Exempted for 8 years of the project implementation period | ||||
| Excise Duty | Import of project related items as approved by the Board of Investment of Sri Lanka shall be exempted during the project implementation period of eight (08) years | ||||
| CESS | Import of project related items as approved by the Board of Investment of Sri Lanka shall be exempted during the project implementation period of eight (08) years | ||||
| 2209/22 | Jan-05-2021 | “Dedicated Pharmaceutical Manufacturing Zone” ( in an area of 400 acres of land owned by the Board of Investment of Sri Lanka in Hambantota-Arabokka area in two phases | Proposed exemptions set out in the Schedule below to this Notification shall apply to individual enterprises identified by the BOI as falling within the purview of the Strategic Development Project identified. | Corporate Income Tax | For income generated through exports (including deemed exports) minimum of 05 years ars up to the maximum of 10 years tax holiday will be granted based on the aforesaid criteria.The said exemption period shall be reckoned from the year in which the enterprise commences to make profits or any year of assessment not later than 02years reckoned from the date on which such enterprise commences commercial operations, whichever falls first. |
| Personal Income Tax | A maximum of 20 Expatriate staff members are exempted from income tax for a period of 5 years | ||||
| Custome Ordinace | The enterprise shall be exempted from the payment and charge of Customs Duty for import of capital & construction related items, raw materials and production/process related consumables | ||||
| VAT | The enterprise shall be exempted from the payment and charge of Value Added Tax ( VAT ) for importation/ local purchase of capital & construction related items, raw materials and production/process related consumables for both production for export and import substitution | ||||
| CESS | The enterprise shall be exempted from the payment and charge of CESS under The Sri Lanka Export Development Act, No. 40 of 1979 for the importation of capital & construction related items, raw materials and production/process related consumables for both production for export and import substitution. | ||||
| Ports and Airport developemnt Levy | The enterprise shall be exempted from the payment and charge of Ports and Airports Development Levy (“PAL”) for importation of capital & construction related items, raw materials and production/process related consumables for both production for export and import substitution. | ||||
| 2224/9 | April-20-2021 | “Dedicated Textile Manufacturing Zone” in an area of up to 400 acres of land to be owned by the Board of Investment of Sri Lanka in Eravur, Batticaloa District | Proposed exemptions set out in the Schedule below to this Notification shall apply to individual enterprises identified by the BOI as falling within the purview of the Strategic Development Project identified | Corporate Income Tax | Maximum tax exemption period of 10 years and a minimum of 5 years based on the investment. A concessionary rate of 50% of the CIT will be applicable for a minimum of 2 years and a maximum of 5 years , depending on the initial investment. |
| Personal income Tax | A maximum of 10 Expatriate staff members are exempted from income tax for a period of 5 years | ||||
| Custome Ordinace | Exempted for all imports of contstruction related items ,capital goods and raw material | ||||
| VAT | Construction related items, capital goods and raw materials for both production for export including deemed exports and import substitution via sales to local market | ||||
| CESS | Exempted for all imports of contstruction related items ,capital goods and raw material | ||||
| Ports and Airport developement Levy | Exempted for all imports of contstruction related items ,capital goods and raw material | ||||
| 2217/40 | March-05-2021 | Ceylon Tyre Manufacturing Company (Pvt) Ltd project to Manufacture Semi Steel Tyres and All Steel Radial Tyres (Truck and Bus Radial Tyres - TBR, Passenger Car Radial Tyres - PCR) for the export market at Hambanthota International Port w | Ceylon Tyre Manufactaring Company (Pvt) Ltd | Corporate Income Tax | Tax exemption period of 12 years |
| Personal Income Tax | A maximum of 15 expatriate staff members will be exempted from income tax from profits and gains arising from employment for a period of 5 years. | ||||
| Custome Ordinace | Customs duty shall be exempted for import of all project related items including capital items, construction items, raw materials and consumables as approved by the Board of Investment of Sri Lanka excluding the items in the negative list published by the Ministry of Finance. | ||||
| VAT | The VAT exemption shall be deferred for the importation of raw materials subject to eighty per centum (80%) of the output of the Project Company is exported. | ||||
| Ports and Airport developemnt Levy | All capital items imported during the Project implementation period of Thirty-Six (36) months and raw materials as described and permitted as referred in the Ports and Airports Development Levy Act, No. 18 of 2011. | ||||
| 2238/39 | 2254/02 | July-30-2021 | Development and Operation of West Container Terminal- 1project under the Colombo Port Expansion project. | Private-Public-Partnership (PPP) with M/s Adani Ports and Special Economic Zone Limited, India, John Keells Holdings PLC and Sri Lanka Ports Authority | Corporate Income Tax | A 25 year tax exemption period will commence from either the first year in which the Project Company makes taxable profit or from 02 years after commencement of commercial operations, whichever falls first. |
| Personal Income Tax | Dividends received by shareholders will be exempted for 25 years plus one year. A maximum of 20 Expatriate staff members are exempted from PAYE for 05 years. The Company shall be exempted from the payment of Withholding Tax on interest on foreign loans taken for capital expenditure and on technical fees paid to consultants employed in the project. | ||||
| The port and airport development levy | Exempted during the project implementation period of 5 years | ||||
| Custome Ordinace | Applicable to all project related items in capital nature and any other project related items as at within the project implementiaon period of 05 years. | ||||
| VAT | The importation of project related goods and services and the local purchases of project related goods and services during the Project Implementation Period of 05 years shall be exempted The deferment as permitted in the VAT Act shall be applicable not only for direct supplies to the Project Company but also for supplies made to a contractor or by a sub-contractor to a contractor. | ||||
| 2254/03 | November-15-2021 | A four lane elevated highway from New Kelani Bridge to Athurugiriya via Rajagiriya | CHEC NKBA Elevated Highway (Pvt.) Limited | Corporate Income Tax | The profit and income generated by the Project to be exempted from Corporate Income Tax under the Inland Revenue Act, No. 24 of 2017 for a total of 18 years ( Including the construction, operation and maintenance period) |
| Personal Income Tax | Dividends received by shareholders will be exempted for 15 years plus one year. A maximum of 40 Expatriate staff members are exempted from PAYE for 03 years of the construction period. A maximum of 20 Expatriate staff members are exempted from PAYE for 15 years after the construction period. The Company shall be exempted from the payment of Withholding Tax on interest on foreign loans taken for capital expenditure and on fees paid to consultants during the construction and maintenance period, | ||||
| VAT | All project related items imported during the 18 year period will be exempted from VAT. VAT on all locally purchased project related goods will be deferred until after the construction and maintenace period. | ||||
| The port and airport development levy | All project related items imported during the construction period ( 3 year) and maintenance period ( 15 year ) will be exempted from PAL | ||||
| Excise Special Provision | All project related items imported during the construction period ( 3 year) and maintenance period ( 15 year ) will be exempted from excise duty. | ||||
| CESS | All project related items imported during the construction period ( 3 year) and maintenance period ( 15 year ) will be exempted from CESS. | ||||
| Custome Ordinace | All project related items imported during the construction period ( 3 year) and maintenance period ( 15 year ) will be exempted from Custom Import Duty. | ||||
| 2263/03 | January-18-2022 | To provide Information Technology and InformationTechnology enabled services for export by HCL Technologies Lanka (Private) Limited and to provide technically qualified IT employment opportunities for 5,325 locals by 2032. | HCL Technologies Lanka (Private) Limited | Corporate Income Tax | Tax exemption period of 12 years , followed by a concessionary rate of the 50% of the prevailing CIT for a period of 5 years |
| Personal Income Tax | Dividends received by shareholders will be exempted for 12 years plus one year. A maximum of 20 Expatriate staff members are exempted from PAYE for 05 years. | ||||
| The port and airport development levy | All project related items imported during the 12 year period will be exempted from PAL | ||||
| Custome Ordinace | All project related items imported during the 12 year period will be exempted from PAL | ||||
| VAT | The Project shall be exempted from the payment and charge of Value Added Tax (VAT) and its amendments for the importation of all project related items required for the implementation of the project as approved by the BOI for a period of twelve (12) years reckoned from subject to the further condition that more than ninety per centum (90%) of income from services are received in convertible foreign currency. | ||||
| Tax Concessions Provided for Projects Identifed as Strategic Development Projects | |||||
| Source : http://documents.gov.lk/en/acts.php |
