The government to offer tax concessions for investments in REITs

The government plans to exempt investments in the housing market through Sri Lanka Real Estate Investment Trusts (SLREIT) to be exempted from capital gains tax and reduce stamp duty up to 0.75 percent from the current stamp duty of 4 percent.

The measures proposed in the budget 2021 to prmote SLREIT to attract investments into Sri Lanka’s Real-estate market.

It is proposed to simplify taxes on capital gains, where such taxes will be calculated based on the sale price of a property or the assessed value of a property, whichever is higher.

The Dividends are also to be free from Income Tax.

The Securities and Exchange Commission of Sri Lanka (SEC) published Rules of SLREIT the Gazette on 31st July 2020.

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