The Inland Revenue Department (IRD) will refund foreign tourists the 15% Value Added Tax (VAT) they pay on goods purchased in Sri Lanka when they leave the island from tomorrow.
A special counter set up for this purpose at Bandaranaike International Airport (BIA) Departure Lounge will be declared open by Minister of Finance and Mass Media Mangala Samaraweera tomorrow afternoon.
Merchants who wish to be a part of this initiative will be required to register with the IRD, with 18 merchants having registered already.
A proposal of the 2018 Budget, this initiative is aimed at promoting tourism and promoting Sri Lanka as a trading hub of Asia, with the resultant development of the retail sector expected to increase foreign exchange to the country.
VAT refund systems are in place in many countries around the world.
Sri Lanka to begin VAT refunds for foreign tourists
10 Sep 2018
Sri Lanka to begin VAT refunds for foreign tourists
10 Sep 2018
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Discover Kapruka, the leading online shopping platform in Sri Lanka, where you can conveniently send Gifts and Flowers to your loved ones for any event. Explore a wide range of popular Shopping Categories on Kapruka, including Toys, Groceries, Electronics, Birthday Cakes, Fruits, Chocolates, Automobile, Mother and Baby Products, Clothing, and Fashion. Additionally, Kapruka offers unique online services like Money Remittance, Astrology, Medicine Delivery, and access to over 700 Top Brands. Also If you’re interested in selling with Kapruka, Partner Central by Kapruka is the best solution to start with. Moreover, through Kapruka Global Shop, you can also enjoy the convenience of purchasing products from renowned platforms like Amazon and eBay and have them delivered to Sri Lanka.Send love straight to their heart this Valentine's with our thoughtful gifts!