President Anura Dissanayake has granted 35-year tax concessions to four companies operating in Port City. The concessions, which will commence from Monday the 14th, will be effective until July 13, 2060. He has granted these concessions as the Minister of Finance, Planning and Economic Development.
Accordingly, it is reported that this concession has been granted in relation to each category of income, profits, distributed dividends, withholding tax and import tax.
In addition, the companies have been exempted from VAT, provisions of the Finance Act, excise duty, customs duty, port and airport development tax, export development act, workers’ protection termination act, and the foreign exchange act.
The relevant Gazette Notification No. 2445/02, No. 2245/03, No. 2245/04, No. 2245/05 has been issued on 14 July 2025.