The International Monetary Fund, which is engaged in a comprehensive loan program with Sri Lanka, has presented another condition for providing loans to Sri Lanka, according to diplomatic sources.
Accordingly, it has been instructed to abolish all tax concessions currently offered to encourage investors investing in the Port City project built by China.
The IMF’s recommendation states that since the annual fiscal targets expected by the government cannot be met by offering tax concessions in this way, the tax concessions should be abolished.
Accordingly, it is learned that the tariff and customs tax concessions provided to investors so far will have to be removed.