A VAT refund counter is to be opened at the Katunayake airport, the Ministry of Finance said.
The refund counter will allow foreigners leaving Sri Lanka reimburse the 15 percent VAT they paid when purchasing items in Sri Lanka.
So far 18 shops that sold good and garments have already registered with the Department of Inland Revenue to qualify under this procedure.
Any enterprise that is willing to be stakeholders of this system can register with the Department of Inland Revenue based on their permanent VAT number.
The objective of the programme is to attract more foreign tourists to Sri Lanka transforming the country in to a trading hub in Asia, in line with the budget proposal 2018.
The Finance Ministry said that the move is expected to be a milestone in Sri Lanka’s economy in its economic development. (Colombo Gazette)