Srilanka, Feb. 21 -- The Joint Apparel Association Forum (JAAF), while joining the bandwagon in welcoming Budget 2025, expressed serious concern over the potential impact of a premature removal of SVAT without a clear, well-tested alternative.
The Forum was among those who advocated for a digitally driven VAT refund solution with minimal human intervention, ensuring efficiency and transparency.
"A poorly managed transition could create cash flow constraints for exporters, disrupt operations, and damage Sri Lanka's reputation as a stable sourcing destination, especially at a time when global brands prioritise supply chain reliability," it said in a statement to the media yesterday.
The apparel sector plays a critical role in Sri Lanka's e...