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 Colombo–Kandy main road at Pahala Kadugannawa has been closed indefinitely after a deadly rockfall in the area that left six people dead and four others injured.
Read this week’s Sunday Times for your interesting articles
The Cyclonic Storm “Ditwah” moved further north from Trincomalee today evening leaving a trail of destruction including more than 90 deaths, over 100 missing and tens of thousands displaced, officials said.
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