Aloysius may get big tax concession for Kalkudah distillery View(s):Under a budget proposal effective this year, Arjun Aloysius’ liquor manufacturing firm W M Mendis and Co. is likely to receive a 100 percent capital allowance for locating its proposed four billion-rupee alcohol distillery at Kalkudah in the Batticaloa district. Approval to set up a grain-based extra neutral alcohol (ENA) distillery was granted to W M Mendis well before the 2017 budget proposals were announced. The Fiscal Policy Department wrote to the Excise Department on May 13, 2015, saying the ENA distillery was approved as a pilot. But W M Mendis started implementing the project only in 2016. Despite earlier plans, W M Mendis is yet to be listed on the Colombo Stock Exchange.

Source: Sunday Times March 18, 2017 19:41 UTC