Sri Lanka to give tax breaks to apartments for professionals

Nov 21, 2013 (LBO) - High income earnings professionals who combine in small groups to build housing complexes for themselves will be given a 50,000 tax deduction a month for mortgage payments, the budget for 2014 said.
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It will apply to doctors, lawyers, engineers, architects and business executives.

Profit tax on banking and financial institutions which provide facilities will be given a half tax holiday.

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Stamp duty for the purchase of land for such a housing complexes will be reduced by 25 percent.

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