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

xii.
xiii.
xiv.
Pearls, diamonds, diamond power, precious stones, precious metals, and gold coins
Unused postage or revenue stamps
Import and supply of goods at any; duty free shop for foreign currency.
xv. Temporary import of high value plant, machinery, equipment etc. to be exported within 12
months.
xvi.
xvii.
xviii.
Any goods imported by or supplied to any diplomatic mission or other privileged person
under the Vienna convention and identified as such by the Commissioner General of
Inland Revenue.
Passenger’s Baggage(Exemption) entitlements, duty free re-importation and ships stores
Import of goods by; approved organizations for relief of distress, charitable or religious
purposes
(a)
(b)
Import of approved project related articles by any BOI company
approved before 16 th May 1996 or before 1 st April 1998 with a total cost of the
project not less than Rs.500 Million.
import of approved project related articles by any BOI project which will make
exempt supplies on the completion of the project for a period of 02 years form 1 st
August 2002.
xix
xx
xxi
xxii
Xxiii
Import of non-business articles and samples worth rs.10,000/- or less
Supply of goods used in Sri Lanka for a period not less than 12 months under any hire
purchase agreement
Fire or subsidized meals to employees at their places of work
Supply of residential houses other than by a BOI company which has entered into an
agreement on or after 01 st April 2001 with a project cost not less than US dollars 10
million or its equivalent.
Agricultural tractors and a agricultural machinery.
Services
1. Educational services provided by a recognized educational establishment Government
school or higher educational establishment funded by the government.
2. Public library services
3. Specified financial services including life insurance, Agrahara Insurance and Crop &
Livestock Insurance
167