The Inland Revenue officers’ trade unions have cautioned the government that proposed changes in the tax collection system could lead to a revenue loss.
Mr H.A.L Udayasiri, Secretary of the Inland Revenue Service Union said that the proposed change moves to remove their department from collecting VAT from five key areas - tobacco, liquor, Telecom, vehicles and gaming.
He said under the proposed plan the VAT collection, hitherto under the Inland Revenue is to be removed.
The government is expected to introduce a new tax system under a new Act to be introduced.
Mr Udayasiri said last year due to change of tax policies the government lost a revenue of Rs 319 billion while the loss of tax due to the COVID-19 situation was only Rs 65 billion.
He said representations will be made to the President and Prime Minister regarding the matter.
The funeral of arguably the Queen of the Sinhala cinema Malini Fonseka, will be held with state honours on Monday, May 26, 2025, at the Independence Square.
Former Sports Minister Mahindananda Aluthgamage and former Sathosa Chairman Nalin Fernando have sentenced to 20 and 25 years respectively after they were found guilty in a case of fraud.
Three Electoral Organisers of the Samagi Jana Balawegaya tendered their resignations.
Former Minister Duminda Dissanayake was arrested today by the Terrorism Investigation Division (TID) over the incident where a gold plated T56 firearm was found from an apartment complex in Wellawatte, Police said
Veteran actress and Queen of Sri Lankan Cinema, Malini Fonseka, passed away this morning, March 24, 2025, at the age of 78 while receiving treatment at a private hospital in Colombo.
Leave Comments