New procedure for 15% VAT repayment

Colombo (News1st) - A new procedure for the repayment of 15% VAT, for goods purchased by foreign tourists during their stay in Sri Lanka is set to be introduced on Tuesday (Sept 11). A special counter will be opened at the departure terminal of the Bandaranaike International Airport by the Minister of Finance and Mass Media, Mangala Samaraweera for this purpose. The procedure that was proposed by the 2018 budget, is being implemented by the Department of Inland Revenue. Business enterprises are required to register with the Department of Inland Revenue under this programme for repayment of VAT to become eligible under this scheme. Any enterprise that is willing to be stakeholders of this system can register through the Department of Inland Revenue based on their permanent VAT number.