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VAT relief proposed in budget from September

  • NBT to be lifted on hotels registered with SLTDA if they receive payments through local banks
  • Importation of yachts and other vessels for pleasure or sport to be exempted from NBT
  • NBT exemption available for subcontractors in construction to be extended to main contractors
  • VAT payment date to be shifted to 20th day of the month easing inconvenience to taxpayers, administration
  • Exemption of VAT for apartments sold below Rs.25mn

Source: dailymirror.lk

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