Minister of Finance Mangala Samaraweera opened a special VAT refund counter at the Katunayake International Airport departure terminal yesterday to serve international travellers.
Sri Lanka has introduced a procedure for the re-payment of 15% VAT to foreign tourists on departure, for goods purchased during their stay in Sri Lanka which is now implemented.
The procedure that was proposed in the 2018 Budget, is implemented by the Department of Inland Revenue and business enterprises are expected to register with the IRD under this programme for repayment of VAT to become eligible under this scheme.
The Ministry of Finance said any enterprise that is willing to be stakeholders of this system can register under the Department of Inland Revenue based on their permanent VAT number. The objective of this programme is to attract more foreign tourists to Sri Lanka transforming the country to a Trading Hub of Asia, in line with the 2018 Budget Proposal.
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