Sri Lanka’s apparel sector calls for digital VAT refund overhaul
Welcoming the budget in Sri Lanka, the Joint Apparel Association Forum recently expressed serious concern over the potential impact of a premature removal of the simplified value-added tax (SVAT) without a clear, well-tested alternative. Ensuring a smooth and transparent transition from SVAT is crucial to maintaining the apparel industry’s competitiveness and sustaining investor confidence, it said.
Welcoming the budget in Sri Lanka, the Joint Apparel Association Forum recently expressed serious concern over the potential impact of a premature removal of the simplified value-added tax (SVAT) without a clear, well-tested alternative.
Ensuring a smooth and transparent transition from SVAT is crucial to maintaining the apparel industry’s competitiveness and sustaining investor confidence, it said.
