- Exporters are concerned about the transition from the SVAT scheme to a new VAT refund system.
- The new Risk-Based Refund Scheme aims to issue refunds within 45 days but faces skepticism.
- Industry stakeholders fear cash flow disruptions and liquidity issues due to potential refund delays.
- Various industry groups have expressed concerns and some have taken legal action against the SVAT removal.
- There are calls for a reliable VAT refund mechanism to maintain export sector stability.
Source: themorning.lk
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
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