Tax incentives to encourage electricity production from renewable energy sources.

The inverters needed to generate electricity will be exempt from the port and airport development tax, Finance State Minister Ranjith Siyambalapitiya said.

He said the decision was taken to encourage the production of electricity through renewable energy sources.

This tax exemption has been granted by the gazette notification (2312/67) issued by President Ranil Wickramasinghe.

Accordingly, the State Minister said that arrangements have been made to exempt the port and airport development tax from 10% on static converters and inverters imported under HS code 8504.40. (Chaturanga Pradeep Samarawickrama)