Sri Lanka, Feb. 17 -- In a move to accelerate economic growth and attract large-scale investments, the Government has introduced new regulations under the Strategic Development Project Act No. 14 of 2008 outlining updated criteria for projects to qualify for tax concessions.

The revised regulations, gazetted by the Finance Ministry on February 8, set out sector-specific investment thresholds for projects to be recognised as Strategic Development Projects (SDPs). Qualifying projects will be eligible for corporate income tax holidays ranging from five to ten years, depending on the sector, size of investment, and level of job creation.

These new regulations outlining sector-wise investment thresholds were gazetted by the Finance Ministry ...