Exporters of Electrical and Electronic products and services are immensely benefited by a host of incentives and market access enablers. The government of Sri Lanka views this sector as one that stimulates innovation, investment, and export-led growth. In that endeavour numerous incentive schemes, including tax incentives, tax holidays, avoidance of double taxation, and policy facilitators have been introduced.
Moreover, exporters of Electrical and Electronic products and services have the benefit of enjoying preferential access to global markets and a host of other benefits through numerous bilateral and multilateral free trade agreements, including the Indo-Lanka Free Trade Agreement, Pakistan-Sri Lanka Free Trade Agreement and South Asian Free Trade Area (SAFTA). The Generalised Scheme of Preferences Plus (GSP+) scheme facilitates preferential access to the EU.
|Location||Expenses incurred on Decidable Assets√2||Enhanced Capital Allowance||Extended Period for Deducting Unrelieved Losses||Exemption from Dividends tax and Exemptions of employment income from WHT|
|Nothern Province||>US$ 3 Mn and <= US$ 1,000 Mn||200%||10||✗|
|> US$ 1000 Mn||200%||25||✓|
|Other than Nothern Province||> US$ 3 Mn and <= US$ 100 Mn||100%||10||✗|
|>US$ 100 Mn and <= US$ 1,000 Mn||150%||10||✗|
|> US$ 1000 Mn||150%||25||✓|
|Location||Expenses incurred on Decidable Assets√3||Enhanced Capital Allowance|
|Nothern Province||Up to US$ 3 Mn||200%|
|Other than Nothern Province||Up to US$ 3 Mn||100%|
Host of bilateral, multilateral and preferential access provisions present make Sri Lanka an attractive destination for export sourcing. Indo-Sri lanka Free Trade Agreement (ISFTA), Pakistan-Sri Lanka Free Trade Agreement (PSFTA), GSP + schemes, SAARC Preferential Trading Agreement (SAPTA), Singapore-Sri Lanka Free Trade Agreement (SSLFTA), South Asian Free Trade Area (SAFTA) and Global System of Trade Preferences (GSTP) are few amongst many other such attractive enablers.
For more information visit:
Board of Investment (BOI)
Established in 1978, The Board of Investment of Sri Lanka (BOI) is one of the foremost investment promotion agencies in South Asia.
For more information: www.investsrilanka.com
Inland Revenue Department of Sri Lanka
Enabling investor and public confidence the Inland Revenue Department offers fair, friendly and expeditious service, fostering a beneficial tax culture
For more information visit: www.ird.gov.lk
Ministry of Industry and Commerce
Responsible for the development of a robust industrial sector in the country, Ministry of Industries plays a dynamic role in promoting industrial development within the wide policy framework of the government
For more information visit: www.industry.gov.lk
Sri Lanka Customs
Established in 1806, Sri Lanka Customs is one of the oldest government departments, and is responsible for collection of revenues
For more information visit: www.customs.gov.lk
Ministry of Finance
The Ministry of Finance is responsible for macro-economic policies, annual budget and Appropriation Acts, public financial management, local / foreign savings, investments, public debts, banking, finance and insurance activities, international financial cooperation and directing social security and economic development activities
For more information visit: www.treasury.gov.lk