COPF approves Order under Strategic Development Project Act

 

The Committee on Public Finance (COPF) has approved the Order under the Strategic Development Project Act, No. 14 of 2008 published under the Extraordinary Gazette Notification 2291/25 after the Board of Investment (BOI) provided a proper analysis earlier today. 

At the COPF meeting headed by its chairman MP Harsha de Silva yesterday(Oct. 03), its members refused to approve the Order under the StrategicDevelopment Project Act, citing the BOI’s failure to provide a proper analysis. 

At yesterday’s meeting, the COPF chairman inquired from BOI chairmanRaja Edirisuriya, about the benefits to the Sri Lankan economy through thisOrder, presented regarding giving 12-year tax relief to a company investing in Sri Lanka. 

He explained that COPF has no problem regarding this tax relief or these companies and pointed out that a formal analysis including data on its economic impact should be submitted to the committee when such decisions are taken.