Press briefing of Cabinet Decision taken on 2023-01-16

Granting tax concessions for the World Bank funded Inclusive Connectivity and Development Project

- The Inclusive Connectivity and Development Project is being implemented in order to empower the communities in selected districts in Sri Lanka aiming to supply a safe, efficient and climate resilient connectivity and strengthen the agricultural supply chain. Under the said project, it has been planned to develop 3000 km of rural roads island wide, in its initial stage. Taking into account the existing economic situation, it has been recognized that it is appropriate to exempt the payment of taxes relating to the project so that the foreign currency component under the project can be fully used for the project activities. Accordingly, the proposal made by the Minister of Transport and Highways to declare this project as a Specified Project to be eligible for tax exemption through the Minister of Finance, Economic Stabilization and National Policy, was approved by the Cabinet.