Sri Lanka, Sept. 26 -- Exporters while reaffirming their commitment to working with authorities preparing to remove the Simplified Value Added Tax (SVAT) scheme on October 1, cautioned that introducing a seamless refund mechanism was critical to maintaining industry stability at a press conference held yesterday in Colombo.

They noted that the industry has been in continuous dialogue with policymakers on the transition, highlighting potential challenges and the importance of timely solutions. While been encouraged by the repeated assurances from the IRD that the systems are ready to do the refunds sooner than the legally mandated 45 day window, the export organization representatives noted that there was no evident trial done on this to ...