Sri Lanka biz chambers go to court against SVAT removal

Writ Application Filed Against Abolition of SVAT - LNW Lanka News Web

Three entities filed a writ application before the Court of Appeal today (01 Oct) challenging the Inland Revenue Department’s decision to abolish the Simplified Value Added Tax (SVAT). The Inland Revenue Department recently announced that SVAT would be abolished and replaced with the Risk-Based Refund Scheme (RBRS), effective 01 October 2025. According to the Free Trade Zone Manufacturers’ Association, the petitioners argue that the new policy w…

Three chambers legally challenge SVAT abolition

Three private sector chambers filed a writ application before the Court of Appeal on Tuesday challenging the Inland Revenue Department’s (IRD) decision to commence collecting Value Added Tax (VAT) from 1 October without first operationalising the legally mandated automated refund mechanism. The chambers are the Free Trade Zone Manufacturers’ Association (FTZMA), the National Chamber of Commerce of Sri Lanka (NCCSL) and the Sri Lanka Chamber of S

Sri Lanka biz chambers go to court against SVAT removal

ECONOMYNEXT – Three key Sri Lankan business chambers have challenged a decision by the Inland Revenue Department (IRD) to remove Simplified Value Added Tax (SVAT) for exporters without having a proper refunding mechanism. The Free Trade Zone Manufacturers’ Association (FTZMA), together with the National Chamber of Commerce of Sri Lanka (NCCSL) and the Sri Lanka Chamber of Small and Medium Industries, has filed a writ application before the Court…