Sri Lanka: Technical Assistance Report-Repeal of Simplified Value Added Tax and the Transition to Risk-Based Value Added Tax Refund Processing
Technical Assistance Reports, August 23, 2024
Source details
- Canonical URL
- Sri Lanka: Technical Assistance Report-Repeal of Simplified Value Added Tax and the Transition to Risk-Based Value Added Tax Refund Processing
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Bibliographic details
- Published: August 23, 2024
- Series: Technical Assistance Reports
- Volume: 2024
- Issue: 073
- Pages: 13
- DOI: https://doi.org/10.5089/9798400286568.019
- Stock No: T
Summary
- This report summarizes an expert visit on VAT refunds that provided Inland Revenue Department officials with examples of good international practice in VAT refund management and risk management.
Major findings and focus areas
- Emphasis on VAT refund management practices.
- Emphasis on risk management approaches for VAT refunds.
- Engagement directly involved Inland Revenue Department officials.
Policy implications and recommendations (as implied by scope)
- Transition from simplified VAT procedures to a risk-based VAT refund processing framework to align with international good practice.
- Strengthening refund management processes within the Inland Revenue Department through adoption of documented risk management techniques.
- Use of examples of international practice to inform repeal of simplified VAT and implementation of risk-based refund controls.
Subjects and keywords
- Subject: Revenue administration, Tax refunds, Taxes, Value-added tax
- Keywords:
- cash refund request
- example Project risk register
- Exporters
- IMF's Fiscal Affairs Department
- level project task
- repeal committee
- Risk Management.
- Sri Lanka
- Tax Administration
- Tax refunds
- Value-added tax
- VAT
- VAT Refund
International Monetary Fund. Technical Assistance Reports 2024, 073 (2024).
Content in this bundle
- Box 1. Immediate Next Steps