Invest your dollars here now, MP Bandula tells investors

November 07, 2024

Economy

Invest your dollars here now, MP Bandula tells investors

November 05, 2018

Parliamentarian Bandula Gunawardena urged all who maintained local and foreign dollar accounts to invest their dollars in the country as the rupee value will rise.Gunawardena requested the people, who maintain foreign and local dollar accounts to invest their money in the country, otherwise they will incur losses in the future.They will incur losses if they keep their dollar monies in local and foreign accounts any further hoping the rupee value will depreciate further, he added.

MP Gunawardena said with certain measures taken by Prime Minister Mahinda Rajapaksa as the Finance Minister, the rupee value will be strengthen gradually.Measures were taken to remove the 14% tax imposed on earnings of foreign employees when they remit their money, that was removed by the new PM.

He further added that it has been planned to implement a mechanism to introduce tax concessions for foreign investments. “We have suggested to the Finance Minister to provide the maximum possible benefits for foreign investments. We requested him to offer those concessions by the Vote on Account or at the next budget” he added.