The Order under the Strategic Development Project Act, No. 14 of 2008 published under the Extraordinary Gazette Notification 2291/25 which did not received approval of the Committee on Public Finance yesterday (03) received the approval of the Committee Oct; (04) morning following the presentation of proper analysis by the Board of Investment.
The Board of Investment was instructed yesterday to come before the committee with all the data and analysis by 9.00 am today. Accordingly, the Committee on Public Finance met OCt (04) at 9.00 am under the chairmanship of Hon. (Dr.) Harsha de Silva. Thereafter, the investment board presented the requisite data and thus approval was given.
This Order published under the Gazette No. 2291/25 dated August 03 rd , 2022 enacted by the Hon. President as the Ministry of Finance, Economic Stabilization & National Policies was presented to Parliament on September 20 th .
The committee pointed out that although the gazette was approved, the basis for giving tax concessions for a period of 17 years to the company making the investment should be properly analyzed and a proper policy should be prepared in future to determine the tax concessions given according to the amount of the investment.
Minister Hon. Vidura Wickramanayaka, State Ministers Hon. Shehan Semasinghe, Hon. (Dr.) Suren Raghavan, Members of Parliament Hon. Anura Priyadharshana Yapa, Hon. Chandima Weerakkody, Hon. Mayantha Dissanayake, Hon. Harshana Rajakaruna and Hon. Prof Ranjith Bandara and officials were present at this meeting held.
