Ministry of Finance has decided to
reduced the 15 percent VAT (Value Added Tax ) imposed on Tourist Hotels and Tour operators to 5 percent with immediate effect for a period of one year .
Accordingly the VAT reduction on Tourist Hotels will be implemented from 01st of April this year up to 31st of March next year (2020) in vuew of uplifting the Tourist Hotel industry which is being affected due to the Easter Sunday bombings according to the Ministry.
Finance Ministry has also decided to exempt all taxes imposed on security equipment imported by Tourist Hotels as a part of the concessions delivered to Hotel industry .
A concessionary package to uplift Sri Lanka's Tourism Industry submitted to the Cabinet has been approved according to Government .
Meanwhile Minister Eran Wikramaratna has stated during a press briefing held in Colombo today that Government will approve three loan schemes for large scale and small scale tourist hotel businesses in the country based on their earnings .
Accordingly the VAT reduction on Tourist Hotels will be implemented from 01st of April this year up to 31st of March next year (2020) in vuew of uplifting the Tourist Hotel industry which is being affected due to the Easter Sunday bombings according to the Ministry.
Finance Ministry has also decided to exempt all taxes imposed on security equipment imported by Tourist Hotels as a part of the concessions delivered to Hotel industry .
A concessionary package to uplift Sri Lanka's Tourism Industry submitted to the Cabinet has been approved according to Government .
Meanwhile Minister Eran Wikramaratna has stated during a press briefing held in Colombo today that Government will approve three loan schemes for large scale and small scale tourist hotel businesses in the country based on their earnings .
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