LBO Home IndoChina | About Us | To Advertise | Contact Us rss LBO Mobil rss rss rss rss rss
International Arbitration Centre to be established in Sri Lanka |     Electricity tariff reduction for hotels and shops from this November                                          A Special Tax Scheme for the motor vehicle imports instead of the current system                                          Value Added Tax reduced to 11 percent |     Aerospace Engineering Unit will be established at the Moratuwa University | EPF payment from the employer to be increased to 14%                                          Sri Lanka Customs to have a One Stop Service Center |  Import tax removed on infant milk food                                          A special duty scheme on motor vehicles for foreign employed individuals |  Main Sri Lankan towns to be developed under a special Urban Development Programme                                          
Sat, 25 October 2014 13:13:03
Sri Lanka gives tax breaks for renewable energy
09 Nov, 2012 07:12:43
Nov 09, 2012 (LBO) - Sri Lanka has cut taxes on renewable energy equipment and given accelerated depreciation allowances for renewable energy investments and given tax holiday for wood based energy crops.
President Mahinda Rajapaksa presenting a budget for 2012 said Sri Lanka wanted to reduce imported petroleum use and promote renewable energy.

"In this background, it is necessary to encourage the exploration of remaining hydro potentials, solar and other renewable energy sources," he said.

Import taxes on solar panels and other renewable energy equipment not made in Sri Lanka would be cut and income tax reduced to 12 percent.

Profits from crops grown for dendro (wood based) energy would be exempt from income tax for 10 years.

Industries investing in renewable energy which will cover up to 30 percent of their needs would be given lump sum depreciation for tax purposes.

Your Comment
Your Name/Handle
Your Email (Your email will not be displayed)
Your Email
Receivers Email
Your Comment