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VAT on insurance - refund

sltcdma

By sltcdma
in General Automotive

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sltcdma

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I was charged 15% VAT on my premium even after the court stay order on VAT implementation, given on 11/7/2016.  When I complained to the Insurance Board of Sri Lanka they arranged me to refund the overcharged 4% of vat percentage (15%-11%) from the insurer. This is a very good decision as I believe many of us have been overcharged on VAT even after the court stay order to date. The IBSL ref no for my complain is IBSL/INV/16/09/226-2 & if you are concerned about refund of over charged vat (if any) you may contact you insurer with ref no since it may be the policy of IBSL on overcharged vat.

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