Sri Lankan president Mahinda Rajapaksa has announced in his 2014 budget speech that free-hold sales of land to foreign nationals will be stopped, and any leases will be taxed 15%.
"From this year foreigners can have access to state and private land only through long term lease arrangements," President Rajapaksa said to parliament.
According to LBO, officials said that foreign firms with a long presence in Sri Lanka will be able to buy freehold land with special permission from the government.
We need your support
Sri Lanka is one of the most dangerous places in the world to be a journalist. Tamil journalists are particularly at threat, with at least 41 media workers known to have been killed by the Sri Lankan state or its paramilitaries during and after the armed conflict.
Despite the risks, our team on the ground remain committed to providing detailed and accurate reporting of developments in the Tamil homeland, across the island and around the world, as well as providing expert analysis and insight from the Tamil point of view
We need your support in keeping our journalism going. Support our work today.
For more ways to donate visit https://donate.tamilguardian.com.
