Tax exemption on inverters and converters used for renewable energy generation

Finance Ministry yesterday announced the removal of the Ports and Airport Development Levy on invertors and converters used to generate electricity through renewable energy sources.  

This tax exemption has been done by Gazette Notification 2312/67, issued by President Ranil Wickramasinghe. 

Finance State Minister Ranjith Siyambalapitiya said that accordingly, arrangements have been made to exempt the Ports and Airport Development Levy from 10 percent on static converters and inverters imported under the HS code number 8504.40.