rnrnEarlier, Capital Allowances were only available for newly constructed commercial property and approved condominiums.
rnrnIn the new tax regime, operating leases offer twin tax benefits for both lessor who identifies the asset in his Balance Sheet and the business lessee who pays the lease rental.
rnrnThis enables businesses to engage in off-balance sheet financing for commercial property and capital investments.
rnrnldblquote As the owner of the asset, a leasing company can claim Capital Allowances against taxable income, while the entire lease payment becomes an allowable expense for the business lessee dblquote , say Hiran de Silva, Executive Director Ceylinco Leasing in an interview with Lanka Business Online.
rnrnCeylinco Leasing recently launched an operating leasing scheme for commercial property br