How tourism service providers can avail financial relief package

tourism

May 31, 2019 (LBO) – Ministry of Tourism and Ministry of Finance has decided to offer the following financial reliefs for tourism service providers.

01. A relief period for capital loans and interest till 31st March 2020.

02. Reduction of VAT component up to 5 percent for a period of one year from 21st May 2019.

03. A loan for working capital with low interest under “Enterprise Sri Lanka” Loan Scheme.

04. Duty-free facility for importing security equipment.

How to apply,

▪ Registered individuals and entities with Sri Lanka Tourism Development Authority (SLTDA)

Step 1 – Obtain Sri Lanka Tourism Development Authority License for the year 2018/19.

Step 2 – Make a financial request to your bank or finance company via a letter.

▪ Non – registered individuals and entities with SLTDA

Step 1 – Download the application from www.sltda.gov.lk

Step 2 – With the filled application and below documents, email SLTDA at register@srilanka.travel Documents required are; – Deed or the Lease Agreement of the occupied land. – Approved Building Plan – Business Registration Certificate – Trade License from the relevant Local Authority. (Pradeshiya Sabha, Urban Council or Municipal Council).

Step 3 – Receive a provisional registration from SLTDA for 3 months with a recommendation letter from SLTDA for the mentioned financial relief package.

Step 4 – Make a financial request to your bank or finance company via a letter with the provisional registration and recommendation letter from SLTDA.

Who are eligible? Tourist Hotels, Guest Houses, Home Stays, Bungalows, Rented Houses, Heritage Bungalows, Rented Apartments, Boutique Hotels, Boutique Villas and Hostels.

Travel Agencies, Restaurants, Water Sports Centers, Spa and Wellness Centers, Spice Gardens, Tourist Shops, Tourist Guides (National and Chauffeur), Safari Tour Operators, Adventure Sports Centers (Land, Water, Air), Camping Sites and other relevant Tourist services.

Furthermore, permanent employees of Tourism Service establishments are eligible to obtain the mentioned No. 01 financial facility as a private loan.

From where to apply? – Any licensed bank in Sri Lanka – Any licensed finance companies – Any specialized leasing companies For more information, – You can refer to the Central Bank of Sri Lanka Circular No. 7 of 2019 issued on 8th May 2019.

Sri Lanka Tourism Development Authority (SLTDA) Website: https://www.sltda.gov.lk/index.html – Telephone: 011 307 0986 or 011 307 0987