Sri Lanka exporters await confirmation of RAMIS

Export-Import

Dec 09, 2016 (LBO) – Sri Lanka’s Exporters Association, which represents a majority of the island’s exporters, has urgently called upon the Finance Ministry to confirm that RAMIS will be fully implemented, and that it will be operational by January 2017.

Paperless SVAT system provided exporters with a significant level of relief towards the constraints on its cash flows, a statement said.

Prior to that, exporters endured delays of months and even years to recover the significant value of VAT they reposed with the Inland Revenue Department.

Exporters say they were deeply concerned at the announcement that SVAT will be suspended but have been assured that RAMIS will allay their concerns as it will replace the current SVAT scheme.

“It is for this reason that Exporters need to reiterate that there should not be a hiatus in the transition from SVAT to RAMIS,” the association said.

“The current SVAT system must remain operational until RAMIS is in place as projected.”