However, JAAF raised significant concerns about the proposed phase-out of the Simplified Value Added Tax (SVAT) scheme, urging the government to ensure a risk-based refund system is fully operational ...

The National Chamber of Exporters of Sri Lanka (NCE) expressed its apprehension regarding the proposed removal of the simplified value added tax (SVAT) system and its replacement with a ...

Sri Lanka’s apparel industry is about to embark on an exciting new chapter. As the first woman to take the helm of the Sri ...

President Anura Kumara Dissanayake reaffirmed that the government would not reintroduce import controls on vehicles, noting ...

Another contentious issue is the removal of the SVAT system, replaced by a risk-based refund mechanism. Mr. Ranaweera criticised this as burdensome, requiring taxpayers to register and submit ...

He also expressed dissatisfaction with the decision to abolish the SVAT scheme though a specific date is not mentioned in the budget speech. This could hurt stakeholders, including exporters who are ...

The SVAT system is designed to minimise corruption by reducing human intervention and enhancing transparency in tax processes The Simplified Value Added Tax (SVAT) system, a home-grown solution ...

JAAF acknowledges the Government’s decision to streamline the VAT system, including the proposed transition from the Simplified Value Added Tax (SVAT) scheme to a risk-based refund mechanism. However, ...

ECONOMYNEXT – Removing the current simplified value added tax (SVAT) system for export factories, without clear well-tested alternative could create cashflow issues for exporters at a time Sri Lanka’s ...

Community Theater “Ghost of a Chance” is a family comedy about a ghost trying to prevent his widow from remarrying and a ...