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Sri Lankacmb/SEP0245dated-27/09/21 - Sri Lanka
Seek funding wanted
provided by June 2022. The Port Access Elevated Highway, connecting the Bandaranaike International Airport to Port City within 25 minutes, is under construction and is expected to be completed by September 2022. This will also connect Port City to the National Expressway network. Port City is located in the heart of Sri Lanka’s capital, adjoining the Port of Colombo and in close proximity to the main railway and bus stations in Colombo.
Geographical Location :
Land Extend :
Estimated Land value :
Market prices to be negotiated based on project proposal
Land Agreement/ownership :
99 years lease from the Government of Sri Lanka
Benefits to the Investor :
Depending on the size of the investment, Income tax holidays for up to 25 years and a waiver of border tariffs & sales taxes on construction material (Developer cost savings of 30% - 40%). Dividends to non-resident entities are exempt from income and withholding taxes. Property and wealth taxes are also not applicable in Sri Lanka as at date. Sri Lanka also has avoidance of double-tax treaties with 46 nations. Permits 100% repatriation of capital and profits. Access to talented human capital of a 92% literacy rate; 30% lower costs in comparison with the other outsourcing destinations. Port City is expected to be declared as a Special Economic Zone for services, with enhanced fiscal incentives and simplified processes for investment and conducting business. Further details will be provided during the presentation
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