ICT sector companies will be made tax-exempt – Gotabaya

ICT sector companies will be made tax-exempt – Gotabaya

October 26, 2019   11:56 pm

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Sri Lanka Podujana Peramuna’s presidential hopeful Gotabaya Rajapaksa says the Information Communication Technology sector companies will be made tax-exempt under his future administration to spur foreign exchange inflows and employment.

He noted this while addressing a rally held at Diyathalawa today (26).

The ICT sector generates massive foreign exchange inflows into the country and the SLPP’s presidential election manifesto has taken this fact into consideration, Rajapaksa said.

He intends to make these companies tax-exempt in order to encourage them to train more skilled employees and thereby generate more jobs.

“These companies generate foreign exchange inflows worth USD 1 billion and provide valuable jobs for our youth. We can easily increase their earnings up to USD 3 billion and provide more than 300,000 job opportunity,” Rajapaksa said further.

After coming into power, this government imposed a hefty 14% tax on such companies, the former Defence Secretary said, pointing out that there is no point in imposing taxes on companies that generate massive foreign exchange inflows.

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