Exporters’ Association to start talks with Gov over a tax incentive to maximize exports

May 27, 2019 (LBO) – Exporters’ Association of Sri Lanka (EASL) expects to initiate discussions with the Government about the possibility of obtaining a tax incentive to maximize their exports and recover from the impacts of the Easter Sunday terror attacks.

The association at its committee meeting held recently deliberated on the best course of action that both the government and the private sector could take to restore, rebuild, and recover from the impacts of the terror attacks.

“Acknowledging the colossal impact the attacks have had on human life, livelihoods, and the economy, the EASL is committed to do their part to help Sri Lanka recover,” the association said.

“With this in mind, the EASL unanimously agreed to encourage its members to maximize their exports, mainly in the industrial sector; and in sectors such as the fruits, vegetables, and seafood where there could be a surplus of produce due to the drop in tourism.”

Towards this end, the committee felt that a tax incentive such as one based on incremental sales over the previous year would help in galvanizing the export sector towards helping in greater foreign exchange inflows.