Regulatory Alerts2019-08-30 | Explanatory Note No. 2 of 2019Interpretations for Circular No. 01 of 2019 on Concessions Granted to Tourism Industry
The Department of Supervision of Non-Bank Financial Institutions issued Explanatory Note No. 02 of 2019 to clarify the application of concessions under Circular No. 01 of 2019. Licensed Finance Companies and Specialized Leasing Companies are informed that music groups registered with the Department of Cultural Affairs are exempt from registering with the Sri Lanka Tourism Development Authority. This exemption allows eligible music groups to avail themselves of the concessions granted to the tourism sector following the Cabinet's extension of these benefits.
Explanatory Note No.02 of 2019
Department of Supervision of
Non-Bank Financial Institutions
30 August 2019
INTERPRETATIONS FOR CIRCULAR NO. 01 OF 2019 ON CONCESSIONS GRANTED TO TOURISM INDUSTRY
The following interpretations are issued in relation to the Circular No.01 of 2019 dated 21 May 2019 on Concessions Granted to Tourism Industry.
1. Registration Requirements
In line with the Cabinet decision to extend the concessions granted to tourism sector to music groups who are registered at the Department of Cultural Affairs, Licensed Finance Companies an Specialized Leasing Companies are informed that such persons and entities are exempted from the requirement to register with Sri Lanka Tourism Development Authority, in order to avail the concessions granted to tourism industry.