Investor Presentaiton
Section 17 BOI Companies
Strategic Development Projects (1/2)
.
A project is considered as a Strategic Development Project (SDP) on
the ground that it is in the national interest and such project is likely to
bring economic and social benefit to the country and is also likely to
change the landscape of the country, primarily through-
a) the strategic importance attached to the proposed provision of
goods and services, which will be of benefit to the public;
b) the substantial inflow of foreign exchange to the country;
c) the substantial employment which will be generated and the
enhancement of the income earning opportunities; and
d) the envisaged transformation in terms of technology
•
Projects Act No. 14 of 2008 as amended by the Strategic Development
Projects (Amendment) Act No. 12 of 2011.
Strategic Development Projects Act covers full or partial exemptions
(depending on the type and the level of investment) of the following
taxes.
a) Value Added Tax (VAT)
b)
Income Tax
c)
Economic Service Charge (ESC)
d)
Customs Duty
e)
Excise Duty
f)
Nation Building Tax (NBT)
g)
Ports and Airports Development Levy (PAL)
h)
Taxes under the Finance Acts
Investment proposal for government lands and property are
scrutinized by Stranded Cabinet Appointed Review Committee on the
recommendation of the line Ministry.
The Board of Investment Sri Lanka (BOI) acts as the facilitator of
SDPs with the concurrence of the Ministry of Finance and Planning.
The project proposal for the SDP should be submitted to the BOI
directly by the investor.
•
BOI will carry out the necessary analysis of the project along with the
line Ministry, with the concurrence of the Ministry of Finance and
Planning.
The Cabinet approval will be granted for the recognition of the project
and for the approval of the Parliament
Any investment capable of altering the economic landscape of Sri
Lanka which would fall under SDPs are considered to obtain tax
exemptions under the provisions of the Strategic Development
KPMG
© 2020 KPMG, a Sri Lankan partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative ("KPMG International"), a Swiss entity.
All rights reserved. Printed in Sri Lanka.
Document Classification: KPMG Confidential
9View entire presentation