The government this week gazetted an amendment to the 2008 Strategic Development Projects Act, reducing the maximum tax holiday period granted to any such project from 25 years to 10 years.
Additionally, the Strategic Development Projects (Amendment) Bill prohibits the extension “under any circumstances” of the tax holiday period, which must commence on the certified date of commercial operations of the project, as confirmed by the Board of Investment (BOI).
Read more in today's Sunday Times edition here
The United States has told Sri Lanka that the disposition of the Iranian naval vessel IRIS Bushehr and its crew is a matter for Colombo to resolve under its own laws and international obligations, while signalling it is in active talks with Sri Lanka to contain Iran’s threat to US interests.
The Editor, of Lankaenews website Sandaruwan Senadheera was arrested at the Bandaranaike International Airport while returning from UK.
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