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Sri Lankan shipping industry to receive tax incentives

Sri Lankan shipping industry to receive tax incentives

Colombo: The Sri Lankan government's new budget contains a number of incentives to encourage its shipping industry, including the removal of import duty from ships registered under the country's flag, stamp duty for mortgages on ships, value added tax on charter charges and income tax for Sri Lankan seamen. The government also plans to lift current restrictions on foreign loans for ship purchase.  [16/11/06]

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