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Exempted From Taxes

Nov 22, 2010 7:02:36 AM - thesundayleader.lk

The government has exempted several key state institutions from taxes for a period of five years in its budget proposals for 2011.

President Mahinda Rajapaksa delivering the budget proposals said that the Ceylon Electricity Board, Ceylon Petroleum Corporation, Sri Lanka Ports Authority and the National Water Supply and Drainage Board will be exempted from taxes for five years to help these institutions get their finances on track.

However, these institutions are expected to give one fourth of its income to the Treasury.