Sept 04, Colombo: An extraordinary gazette was tabled in parliament yesterday to grant a 15 year tax amnesty to a British university that is planning to establish a branch in Sri Lanka.
Britain's Central Lancashire University has agreed to establish an affiliate university in Meerigama in the Gampaha district.
The gazette has been compiled by the Minister of Investment Promotion Lakshman Yapa Abeywardena.
According to the gazette notification, the university has been freed from all the taxes that come under the Inland Revenue Act. The university has been granted an array of more tax reliefs under the gazette notification.
Central Lancashire University authorities signed the agreement to establish the university on December 13, 2012.
The university will be established under the 1978 No. 16 University Act.
Sources say that the hair to the throne of Britain Prince Charles will lay the foundation stone for the university when he visits Sri Lanka for the Commonwealth Heads of Government Meeting (CHOGM) to be held in November.