Sri Lanka PM invites businessmen to invest “hidden money” for just 1% tax
Minister of Finance and Prime Minister Mahinda Rajapaksa has urged businessmen to invest their alleged “hidden money” in Sri Lanka.
The Prime Minister made the request when presenting the Budget 2021 in Parliament yesterday.
He called on all entrepreneurs to use their funds which have been hidden locally or internationally to evade laws pertaining to taxes and foreign exchange.
Under the budget, the Government intends to formulate legal provisions to provide tax pardons to entrepreneurs utilizing such hidden funds, the Prime Minister said.
He added that the pardon will be granted to businessmen who use such funds for any investment facilitated by this Budget under the payment of taxes amounting to 1%