ACT, No. 14 of 2008

14of2008.pdf
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PARLIAMENT OF THE DEMOCRATIC
SOCIALIST REPUBLIC OF
SRI LANKA
STRATEGIC DEVELOPMENT PROJECTS
ACT, No. 14 OF 2008
[Certified on 29th February, 2008]
Printed on the Order of Government
Published as a Supplement to Part II of the Gazette of the Democratic
Socialist Republic of Sri Lanka of February 29, 2008
PRINTEDAT THEDEPARTMENT OFGOVERNMENTPRINTING,SRILANKA
TO BEPURCHASED AT THEGOVERNMENT PUBLICATIONSBUREAU, COLOMBO 5
Price : Rs. 4.00 Postage : Rs. 5.00

Strategic Development Projects 1
Act, No. 14 of 2008
[Certified on 29th February, 2008]
L.D.—O. 5/2008.
AN ACT TO PROMOTE STRATEGIC DEVELOPMENT PROJECTS ; TO
PROVIDE A TAX FREE PERIOD IN RELATION TO IDENTIFIED
STRATEGIC DEVELOPMENT PROJECTS ; AND TO PROVIDE FOR
MATTERS CONNECTED THEREWITH OR INCIDENTAL THERETO.
BE it therefore enacted by the Parliament of the Democratic
Socialist Republic of Sri Lanka as follows :—
1. This Act may be cited as the Strategic Development Short title.
Projects Act, No. 14 of 2008.
2. From and after the date of the coming into operation of Objective of the
this Act, there shall be certain projects identified in accordance Act.
with the following provisions contained herein, as Strategic
Development Projects for the purposes of this Act, to which
exemptions from the applicability of the provisions of the
enactments specified in the Schedule to this Act, may from
time to time be granted :
Provided that the period of any exemption granted in terms
of this section shall in no event exceed a period of twenty-five
years.
3. (1) The Board of Investment of Sri Lanka established Identification of
by the Board of Investment of Sri Lanka Law, No. 4 of 1978, Strategic
Development
shall identify in consultation with the relevant line Ministries,
Projects.
any proposed project as a Strategic Development Project.
(2) On a project being identified in terms of subsection (1)
as a Strategic Development Project, the Minister in charge of
the subject of Investment shall by Notification published in
the Gazette publish the relevant information relating to each
proposed project and the exemptions to be granted in respect
of the same.
(3) On the expiration of a period of thirty days from the date
of the Notification published under subsection (2), the Minister
2—PL 002790—5,400 (02/2008)
2 Strategic Development Projects
Act, No. 14 of 2008
in charge of the subject of Investment, shall in consultation
with the Minister in charge of the subject of Finance take such
steps as are necessary to inform the Cabinet of Ministers of—
(a) the rationale for considering such project as a
Strategic Development Project ; and
(b) the period of exemption proposed to be granted,
and obtain the approval of the Cabinet of Ministers for the
identification of the project as a Strategic Development Project
and for the granting of exemptions to such Project in terms of
section 2.
(4) If the Cabinet of Ministers grants approval for such
Project to be considered as a Strategic Development Project
and for the aforesaid exemptions to be granted to such Project
in terms of section 2, the Minister in charge of the subject of
Investment shall, within six weeks from the date on which the
approval of the Cabinet is granted, by Order published in the
Gazette, specify the name of the Strategic Development
Project, the date of commencement of such Project and the
date on which the exemptions from the enactments specified
in the Schedule hereto, granted in terms of section 2 will
become operative and the date from which the same shall
cease to be operative.
(5) Every Order made in terms of subsection (4) shall be
placed before the Parliament within three months from the
date of publication of the Order in the Gazette.
Procedure for 4. Every Order made under subsection (4) of section 3
operation of shall,—
order.
(a) become operative immediately upon approval by
Resolution of Parliament ; and
(b) if not approved by Parliament, be deemed to be
rescinded with effect from the date of such
Resolution, without prejudice to anything previously
done thereunder.
Strategic Development Projects 3
Act, No. 14 of 2008
5. In the event of any inconsistency between the Sinhala Sinhala text to
and the Tamil texts of this Act, the Sinhala text shall prevail. prevail in case
of inconsistency.
6. Unless the context otherwise requires, “Strategic Interpretation.
Development Project” means a project which is in the national
interest and which is likely to bring economic and social benefit
to the country and which is also likely to change the landscape
of the country, primarily through—
(a) the strategic importance attached to the proposed
provision of goods and services, which will be of
benefit to the public ;
(b) the substantial inflow of foreign exchange to the
country ;
(c) the substantial employment which will be generated
and the enhancement of the income earning
opportunities ; and
(d) the envisaged transformation in terms of technology.
SCHEDULE
(Section 2)
1. The Inland Revenue Act, No. 10 of 2006
2. The Value Added Tax Act, No. 14 of 2002
3. The Finance Act, No. 11 of 2002
4. The Finance Act, No. 5 of 2005
5. The Excise (Special Provision) Act, No. 13 of 1989
6. The Economic Service Charge Act, No. 13 of 2006
7. The Debits Tax Act, No. 16 of 2002
8. Customs Ordinance (Chapter 235)

4 Strategic Development Projects
Act, No. 14 of 2008
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