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Sri Lanka reboots Tourist VAT Refund Scheme to boost local purchases
Daily FT
|July 07, 2025
THE Inland Revenue Department (IRD) last Friday officially revived its Tourist VAT Refund Scheme (TVRS) to incentivise visitor spending on local goods and encourage greater formal-sector activity in the retail trade.
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The revamped service was inaugurated at the Departure Terminal of Bandaranaike International Airport, (BIA) with Industries and Enterprise Development Minister Sunil Handunneththi and Labour Minister and Finance Deputy Minister Dr. Anil Jayantha presiding over the opening of the new VAT counter.
The move is expected to boost tourist spending by offering tax rebates on qualifying purchases.
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