IT industry exempted of taxes from today

2019-12-01 at 06:30

The recent decision by the government to remove all levies imposed in the IT industry will be enforced from today.

The Government Information Department quoting Cabinet Spokesperson Minister Bandula Gunawardena said all levies imposed on the IT industry, including local and international earnings, will be removed from today.

The government had reportedly identified that the removal of levies will aid in rapid development of the industry.

Accordingly, the income tax, the Value Added Tax, the Nation Building Tax and a number of other levies will not be applicable to those involved in the IT field.

The government expects a rapid progress in the IT and computer fields following the implementation of these regulations.

Those involved in the software development industry are expected to receive huge benefits through this new initiative.