ECONOMYNEXT – A Sri Lanka rubber traders group has said the government’s decision to abolish the Simplified Value Added Tax (SVAT) scheme from October 1 would cause ‘severe and far-reaching consequences’, and urged it to differ or phase it out. “Removing SVAT without a tested and operational refund mechanism will trigger widespread financial distress across Sri Lanka’s natural rubber industry, threatening smallholder livelihoods, SME viability, export competitiveness, and foreign exchange inflows vital to the nation’s recovery,” the Colombo Rubber Traders’ Association (CRTA) said in a statement. Other export chambers have voiced similar concerns. Sri Lanka’s natural rubber sector supports tens…
Rubber industry calls for SVAT removal delay, warns of liquidity crunch
Published in News
More from NewsMore posts in News »
- Restoration of Northern, Talaimannar railway lines begins
- Education reforms should suit the country, not the JVP: Namal
- Bride and groom among 8 killed in gas cylinder blast at Pakistan wedding
- Four arrested over alleged Grand Pass shooting plot
- Sri Lanka’s China-backed Hambantota Port eyes 2mn box capacity after 700-pct growth