Government Hears Industry Voice
SLABA commends the Government for responding decisively to industry concerns, particularly the implementation of VAT on imported fabrics, a critical measure advocated by local manufacturers to ensure fair competition and the reduction of the VAT threshold demonstrates a clear commitment to protecting domestic value chains.
“We are pleased that the Government has heard our ask and taken decisive action on VAT for imported fabrics,” said SLABA President, Mr. Fazal M. Fausz.
“These measures level the playing field for local manufacturers and SMEs who are vital to Sri Lanka’s economic growth and employment.”
Supporting Local Manufacturing and SMEs
The Budget’s provisions for CESS and duty revisions, coupled with investments in industrial estates, digital tax administration through mandatory e-invoicing, align closely with SLABA’s recommendations for sustainable industry development.
SLABA thanks the Ministry of Industries, Ministry of Finance, Inland Revenue Department, and Sri Lanka Customs for their meaningful engagement with industry stakeholders.
As a collective of Sri Lanka’s leading apparel brands, SLABA remains committed to collaborating with policymakers to advance the sector’s competitiveness and contribution to national development.
Issued by:
Sri Lanka Apparel Brands Association (SLABA)
Colombo, Sri Lanka