Nation Building Tax (NBT) [Amendments to the Nation Building Tax Act, No.9 of 2009]
- The exemption on the importation of rough unprocessed gem stones for re-export after cutting and polishing will be granted for the lapidary service providers registered under the National Gem & Jewellery Authority.
- Exemption on manufacturing cigarettes will be removed
- The cost of the infrastructure projects will be reduced by the removal of NBT on main construction contractor.
- NBT at the rate of 3.5% will be imposed on foreign payments made using Electronic Fund Transfer Cards (both Debit and Credit cards) to purchase goods or services including offshore digital services.
- In order to remove the NBT anomaly among tour operators, DMC Agencies and hoteliers who are receiving foreign currency will be adjusted.
Nation Building Tax amendments will be implemented with effect from June 1, 2019.
