The Spices and Allied Products Producers’ and Traders’ Association, an approved Association of the Ceylon Chamber of Commerce has expressed appreciation for the decision taken to postpone the abolition of the SVAT system due to come into effect on April 1, 2017.
Previously, the SVAT system was to be abolished on January 1, 2017 as announced in the Budget, but was subsequently postponed to April 1, 2017 consequent to lobbies the joint Chambers and Trade Associations did with the Prime Minster in early January.
The decision by the government to postpone the abolition of the SVAT system will reduce cash flow issues and increase competitiveness of exporters, the Association said.
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