Donations to President’s COVID-19 fund exempted from taxes

Saturday, 28 March 2020 00:00 - - {{hitsCtrl.values.hits}}

Donations to the COVID-19 Healthcare and Social Security Fund, which has been established to strengthen the battle against COVID-19 and improve related social welfare programs, have been exempted from taxes and foreign exchange regulations, the President’s Media Division said in a statement yesterday.

A special account had been opened at the Corporate Branch of the Bank of Ceylon (BOC) under the account number of 85737373.

Deposits can be made through cheques or telegraphic transfers. Donors are requested to inform the Presidential Secretariat along with the relevant documents about their donations in cash to the fund.

The COVID-19 Healthcare and Social Security Fund was established by President Gotabaya Rajapaksa last Monday (23 March). Upon setting up the fund, President Rajapaksa donated Rs. 100 million from the President’s Fund. The President requested everyone to work in unison in the wake of the present challenge before the nation. Local as well as foreign donors can make their financial contributions to the COVID-19 Healthcare and Social Security Fund.

The fund has been set up to meet the following objectives:

To provide for the immediate funding requirements to meet all expenditures connected with COVID-19-related healthcare facilities, including drugs, testing equipment, and capacity expenses.

To meet expenses connected to healthcare and the safety of health sector employees, and all logistic providers working to provide essential public delivery services.

To provide basic essentials to children, women, low income, elderly, differently-abled and vulnerable people.

To mobilise the funding required to strengthen public healthcare systems, including village and remote area dispensaries, testing and treatment centres, and family healthcare systems.

To further consolidate Sri Lanka’s public healthcare system to reduce the risk of communicable diseases in the country.

To assist indigenous medicine, sanitary products manufacturing and distribution, and to promote research to use resources, knowledge and skills to innovate new health and sanitation products based on local raw materials.

To promote research and innovation using Sri Lanka’s medical and scientific knowledge and experience to develop protective dresses and sanitation products to be exported to the global market.

To promote healthy living with organic food consumption, valuing traditional yet rich lifestyles through media and educational programs.

To coordinate fundraising with WHO, UNICEF, UNDP, World Bank, ADB, and Sri Lanka’s major development partner communities and agencies based on the best guidelines for resource allocations, harmonised national procurement system, and governance practices.

The Fund will be managed by a management committee consisting of relevant line ministry secretaries, bankers, financial analysts, and health authorities.