VAT tax refund for visitors to Sri Lanka ‘aimed at attracting tourists and generating income by sale of products’

 

A 15% VAT tax refund for visitor when they leave Sri Lanka, due to start in June, will put the country on par with Singapore, officials have announced.

The Sunday Times reports that the Tourist VAT Refund System (TVRS) is “aimed at attracting tourists and generating income by sale of products”.

From June 1, tourists will be able to obtain the VAT refund –15 percent of the value of the good — at the Bandaranaike International Airport (BIA) and other ports.

With the opening of the Colombo Port City, tourist arrivals were expected to increase significantly and that is another reason for the VAT bonus being offered to them.

Read more here.

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