Wed, 29 Sep 2021 Today's Paper

Govt. mulls tax waivers to support tourism industry after terror attacks

6 May 2019 10:59 am - 2     - {{hitsCtrl.values.hits}}

A A A

  • Mangala expects tourism to bounce back in one to one and a half years
  • Says economy is moving slowly but soundly


Sri Lanka will consider a tax amnesty programme for the tourism industry in a bid to help companies recover from the Easter Sunday terrorist attacks that killed more than 250 people, Finance Minister Mangala Samaraweera had told Bloomberg Television.


The industry has requested tax waivers, including on the importation of security gear in the aftermath of the blasts that targeted foreigners and churchgoers, Samaraweera told Bloomberg Television on the sidelines of Asian Development Bank meetings in Fiji, last week.


“With the right kind of action, I would say tourism could bounce back to normalcy within a short period of one to one and a half years,” he said. 
That’s been the experience in destinations such as Tunisia and Bali, which faced similar attacks in the past, he added.


The terror attacks are set to hit tourism, which accounts for 5 percent of the US $87 billion economy.


 Sri Lanka has been struggling to revive growth following a three-decade long civil conflict that ended in 2009 and political turmoil last year.


 Arrivals have increased more than fivefold since the war ended and revenue from the industry is near a record.


Central Bank Governor Indrajit Coomaraswamy earlier said it was still too early to quantify the effect the decline in tourism will have on economic growth, which slowed to 1.8 percent in the fourth quarter, the weakest pace since the start of 2014.


“The biggest risk would be continuation of such attacks,” Samaraweera said. “We think we can manage it, hoping it would not recur again. Sri Lanka’s economy is moving slowly, but soundly.”

See Kapruka's top selling online shopping categories such as Toys, Grocery, Flowers, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,News, Courier/Delivery, Food Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka.

  Comments - 2

See Kapruka's top selling online shopping categories such as Toys, Grocery, Flowers, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,News, Courier/Delivery, Food Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka.

 

  • Vijitha liyanagoda Monday, 06 May 2019 12:01 PM

    Sad to say No recovery plan given.

    Chux Monday, 06 May 2019 05:02 PM

    Where is the bailout package


Add comment

Comments will be edited (grammar, spelling and slang) and authorized at the discretion of Daily Mirror online. The website also has the right not to publish selected comments.

Reply To:

Name - Reply Comment




See Kapruka's top selling online shopping categories such as Toys, Grocery, Flowers, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,News, Courier/Delivery, Food Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka.

 


A state-sponsored elephant racket in the works

A controversial new gazette has been issued seeking to employ elephants for w

Waiver of registration questioned: Import of covid related drugs, products shrouded in controversy

The National Medicines Regulatory Authority- the independent authority that r

Mysterious disease killing pups!

A mysterious respiratory disease affecting puppies in the Central Province is

Jacqueline Fernandez; Lankan Star Shining in Indian Film Sky

Sri Lanka’s Jacqueline Fernandez who has made a name for herself in India