Choose Sri Lanka for Retail Therapy

SRI LANKA has introduced a new system enabling tourists to obtain refunds of 15 per cent Value Added Tax (VAT) payments for goods they purchase from shops in the country. The Tourist VAT Refund System (TVRS) was aimed at attracting tourists and generating income by sale of products, Finance Ministry sources said. 

A VAT refund counter was opened at the Bandaranaike International Airport’s exit terminal by Finance Minister Mangala Samaraweera on Tuesday. Tourists are able to obtain the VAT refund of 15% of the value of their goods.

Shop owners and traders will be required to register for this scheme at the Inland Revenue Department (IRD) under the Tourist VAT Refund Scheme and it is suggested that travellers check prior to making their purchase. 


Go Holiday news : www.govillasandcottages.co.uk
All your holiday needs: IN PRINT - ON-LINE - DiGiMAG - SMARTPHONE -TABLET - BLOG - TWITTER - G+ - FACEBOOK

Greek islands to lose VAT subsidies as EU cuts bite

SIX Greek islands this month lose their VAT (Value Added Tax) rate subsidies as part of the country’s third creditor bailout package.  

A package of cuts was agreed by the Greek government – against the wishes of voters in a referendum – as part of a financial bail-out deal with the European Union, the International Monetary Fund and European Central Bank.

The holiday islands are Mykonos, Naxos, Paros, Rhodes, Santorini, and Skiathos. 

The ending of the tax subsidy will hit the cost of hotel and villa #accommodation, and the prices at cafes and restaurants. There was significant campaigning against the rise, with concern that it would damage the key Greek tourism industry. But #Greece’s creditors made it a condition of the latest bail-out. 

Other Greek islands are likely to lose their VAT rate subsidies next year and in 2017.

Go Holiday news : www.govillasandcottages.co.uk

All your holiday needs: IN PRINT - ON-LINE - DiGiMAG - SMARTPHONE -TABLET - BLOG - TWITTER - G+ - FACEBOOK

Picture Credit: http://www.flickr.com/photos/30400715@N08/5873947732">Mykonos church</a> via <a href="http://photopin.com">photopin</a> <a href="https://creativecommons.org/licenses/by/2.0/">(license), http://www.flickr.com/photos/54555810@N00/3878620643">Blue_Domed_Church_Oia_Santorini</a> via <a href="http://photopin.com">photopin</a> <a href="https://creativecommons.org/licenses/by-sa/2.0/">(license)