Revenue loss due to compromises by tax officers, consultants and taxpayers
IRD Commissioner General D.R.S. Hapuarachchi
While the present economic crisis is the result of many political, economic and social factors, the Inland Revunue Department is optimistic of improving the revenue collection and to get back the foreign currency lying outside the country, said the new Commissioner General of Inland Revenue (IRD) D.R.S. Hapuarachchi in his address at the ceremony to welcome him at a ceremony held at the Chartered Accountants (CA) Auditorium in Colombo recently.
“Although we talk of economic miracles nothing so far has happened. The policy makers, tax officers and consultants and whistle blowers play an important role in revenue collection. As far as corruption is concerned tax officers, tax consultants and taxpayers are responsible for depleted state of revenue to state coffers when compromises are made in settling cases. All these people can be named as culprits who indulge in such white collar crimes,” he added.
He said the Inland Revenue Department and CA Sri Lanka are the two key players responsible for improved performance of the tax system. Macro and micro level businesses play an important role in the economic activities of Sri Lanka. Unlike any other period of history in Sri Lanka the economic crisis has affected the country for a long period of time.
President of the Chartered Accountants (CA) of Sri Lanka Sanjaya Bandara said in the downturn of the country’s economy the responsibilities and expectations of the Inland Revenue is immense. “I would like to assure CA Sri Lanka’s continuous support to the Inland Revenue Department to enhance the country’s tax system.”
He said it was an important day for the CA Sri Lanka to felicitate Mr. Hapuarachichi as the newly appointed Commissioner General of Sri Lanka and the first symposium Tax Symposium 2022 after 63 years of the CA’s history. Mr. Hapuarchchi is no stranger to CA as he had been supportive of CA’s activities such as workshops and budget and tax seminars in the past.
“I have informed the Chairman of the Taxation Faculty Tishan Subasinghe to organise quarterly meetings with the IRD’s senior officials and the Treasury Department officials to discus matters of mutual interest. We have submitted a comprehensive proposal to the Treasury and the Governor of the Central Bank of Sri Lanka regarding measures to be adopted to overcome the present economic crisis,” he added.
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