VAT Guide to Value Added Tax - sri lanka inland revenue ...

1.2.3 Other imported materials except fabric to an outside EPZ BOI Project :_
Submission of a Cusdec for payment of VAT on market value.
1.2.4 Goods from a Customs Sales Bond to an EPZ project :-
With BOI approval on submission of a Cusdec/GRN to Sri Lanka Customs but VAT is payable,
only if there is a value addition including profit mark-up.
.
1.2.5 Goods imported or manufactured out of imported materials by a TIEP
manufacturing bond or infac project to an EPZ project :-
On a Tax invoice to the market value, subject to submission of a Cusdec/GRN to SLC
with the prior approval of BOI.
1.2.6 Goods from a EPZ project to a Customs Bond :-
Permitted on submission of a Cusdec to the SLC by the recipient. VAT is payable on
the basis of sales invoice to Customs.
1.3 REMOVAL OF GOODS FROM AN EPZ FOR PROCESSING AND RETURN
1.3.1 Removal of goods for Processing and Return, Sub-Contracts, etc.:-
Permitted on submission of a Cusdec by the transferor for payment of VAT to the value of the
product including any value addition upfront or deferred basis.
If same goods are required to remove again, VAT is payable only at first instance. Enterprise
should submit documentary evidence to this regard.
Tax invoice to be issued by the processor for processing charges.
1.3.2 Locally purchased goods for processing and return :-
Permitted on submission of a Processing and Return Application. A Tax invoice to be
issued for the processing charges by the processor.
1.4 SALES
1.4.1 Imported goods to inter or intra zone project :-
VAT is not payable existing procedure to continue.
1.4.2 Manufactured goods including fabric to inter or intra zone project :-
On a Tax invoice for the value addition only.
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