Sri Lanka, June 9 -- The Committee on Public Finance (CoPF) has approved a series of tax and fiscal policy reforms, including a five-year tax exemption for newly constructed telecommunications towers, while rejecting a proposal that would have allowed telecom operators to claim tax relief on unpaid customer bills.

The approval was granted when the Finance (Amendment) Bill, which seeks to amend the Finance Act No. 35 of 2018, was taken up before the Committee in Parliament under the chairmanship of MP Dr. Harsha de Silva.

The proposed legislation is part of the 2026 Budget measures aimed at accelerating the development of digital infrastructure and expanding nationwide connectivity.

Under the amendment, telecommunications towers that be...