Exporters awaiting confirmation of RAMIS implementation

Wednesday, 14 December 2016 00:01 - - {{hitsCtrl.values.hits}}

The Exporters Association of Sri Lanka (EASL), which represents the majority of small-, medium- and large-scale Sri Lankan exporters, urgently called upon the Ministry of Finance and the Department of Inland Revenue to confirm that Revenue Administration Management Information System (RAMIS) would be fully implemented and operational by January 2017.

Exporters were deeply concerned over the announcement of the Simplified Value Added Tax (SVAT) being suspended but have been assured that RAMIS would allay their concerns as it would replace the current SVAT scheme.

Up to this point, the paperless SVAT system provided exporters with a significant level of relief towards the constraints on its cash flows as prior to that exporters endured delays lasting months or even years to recover the significant value of Value Added Tax they reposed with the department.

It is for this reason that exporters felt the need to reiterate that there should not be a hiatus in the transition from SVAT to RAMIS and that the current SVAT system must remain operational until RAMIS was in place as projected.