Customs tariff exemption for BOI companies to import new rechargeable electric vehicles

The Cabinet of Ministers approved the resolution furnished by the President as the Minister of Finance, Economic Stabilization and National Policies to grant permission to import new rechargeable electric vehicles subject to exemption of custom tariff to an amount not exceeding the value of United States Dollars 30,000 including insurance and shipping charges for projects that accomplished the following receivable criteria in order to attract investments under the programmes “Retaining and extending investors for re – investment of existing board of investment approved companies” and “The 100 service companies programme that are board of investment’s information technology / and companies empowered by information technology”.

I. Programme for retaining and extending investors for re – investment of existing board of investment approved companies
• The relevant companies should have been registered under section 17 of Sri Lanka Investment Board Act and have been in operation within a period of less than 5 years • Proposed minimum investment for the extension of the project to be United States Dollars 3 million
• Creating at least 50 employments to the minimum under the programme of extending the proposed enterprise.

II. The 100 service companies programme that are board of investment’s information technology / and companies empowered by information technology
• An enterprise should generate 50 new local employment opportunities and out of which 15 employees should have been technically qualified.
• The minimum investment to be United States Dollars 250,000.