Sri Lanka, Oct. 3 -- Opposition Leader Sajith Premadasa has urged the International Monetary Fund (IMF) to halt the withdrawal of the Simplified Value Added Tax (SVAT) system, warning that it will cause serious damage to Sri Lanka's export-oriented industries.
He said that he pointed out to the IMF representatives that the abolition of the SVAT facility, effective from October 1, will cause great harm to the country's exporters, and therefore it should be changed immediately as it is not conducive to the country's export sector.
Speaking during a meeting with IMF Mission Chief Evan Papageorgiou and IMF Resident Representative Martha Woldemichael at his Colombo office, Premadasa said exporters are already struggling and removing SVAT wi...