Sri Lanka capital allowances for investments in north, east: Budget 2017
ECONOMYNEXT – Sri Lankan companies investing in under-developed areas like the north, east and Uva region will be allowed higher capital allowances, Finance Minister Ravi Karunanayake told parliament.
Delivering the 2017 government budget speech, he said a 200 percent capital allowance will be given to firm investing in the northern province and 100 percent capital allowance for those investing in the Uva region.
Investments will have to be over Rs300 million excluding the value of land and have to create over 250 jobs.
(COLOMBO, Nov 10, 2016)