The National Chamber of Exporters of Sri Lanka (NCE) has organised in association with Shippers’ Academy, Colombo a seminar on the Simplified (Suspended) VAT Scheme, which was announced in the Budget 2011.
It will be held on Thursday, 9 June 2011 from 2.30 p.m. to 5.30 p.m. at the Auditorium of the Sri Lanka Export Development Board (EDB), DHPL Building, 3rd Floor, No.40, Nawam Mawatha, Colombo 2.
Mallika Samarasekera, Deputy Commissioner General, Department of Inland Revenue will address the participants giving an overview of the existing VAT Scheme and the changes that have been made to simplify it. This will be followed by a presentation on the Simplified (suspended) VAT Scheme by Deepani Herath, Deputy Commissioner-VAT, Department of Inland Revenue.
The participants would be given an opportunity to clarify issues during a question and answer session that will follow.
The 2011 National Budget announced by President Mahinda Rajapaksa proposed a reform agenda in regard to the tax structure in order to modernise the economy of Sri Lanka. The export sector too received many concessions as Government Policy is to simplify and facilitate the operations of the sector to achieve the national export target of USD 20 billion by the year 2020.
Those eligible to benefit from the SVAT Scheme are exporters and service providers to exporters including banks.