Sri Lanka will be introducing a new system enabling tourists to obtain refunds on 15 per cent Value Added Tax (VAT) payments for goods they purchase from shops in the country with effect from tomorrow (Tuesday).
The Tourist VAT Refund System (TVRS) was aimed at attracting tourists and generating income by sale of products, Finance Ministry sources said.
A VAT refund counter will be opened at the Bandaranaike International Airport’s exit terminal by Finance Minister Mangala Samaraweera on Tuesday.
Shop owners and traders should obtain registration for this scheme at the Inland Revenue Department (IRD) under the Tourist VAT Refund Scheme.
18 such shop owners and traders have already obtained registration, a senior IRD official said.
The tourists would be able to obtain the VAT refund –15 per cent of the value of the goods — at the Bandaranaike International Airport (BIA) special counter after the bills are produced, he disclosed. (Bandula)
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