- Sri Lankan business chambers are challenging the removal of Simplified Value Added Tax for exporters without a proper refund mechanism.
- They filed a writ application against the Inland Revenue Department’s decision to collect VAT without an automated refund system.
- The chambers argue that the lack of a refund system is unlawful and violates constitutional rights.
- Concerns include potential delays and abuse due to the proposed committee-based refund selection process.
- The chambers emphasize that SVAT was effective and that its removal could harm the export supply chain.
Source: economynext.com
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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