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Updated: Parliament summons Lowe, others over K30 billion fertilizer-gate, ACB interested

Afropages - Updated: Parliament summons Lowe, others over K30 billion fertilizer-gate, ACB interested

Afropages - Updated: Parliament summons Lowe, others over K30 billion fertilizer-gate, ACB interested
afropages.fr - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from afropages.fr Daily Mail and Mail on Sunday newspapers.

Pack your bags and go - Mliswa shouts at Parly Chief; MPs close to blows over probe into computer scandal

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Sugar Scam cost the state Rs 15 9 Bn in taxes

Share: Colombo (News 1st); The Sugar Scam cost the state Rs. 15.9 Billion in taxes, said the Finance Ministry via a report to the Parliamentary Committee on Public Accounts on Tuesday (09). The report further noted the Rs. 15.9 Billion in its entirety or a portion of it, benefited a small group of individuals. Parliamentarian Dr. Harsha De Silva, who is a member of the Parliamentary Committee on Public Accounts speaking to News 1st said according to the report the reduction of taxes on sugar did not benefit the general public as a small group had control of prices in the market. “The treasury lost almost Rs. 16 Billion from the sugar tax reduction,” said the MP.

W M Mendis accused of tax fraud amounting to over Rs 6 b

By Bandula SirimannaView(s): Investigators have unearthed a massive tax evasion of more than Rs.6 billion by W.M. Mendis & Co. Ltd one of the renowned liquor manufacturers in Sri Lanka owned by Central Bank bond scam suspect Arjun Aloysius. It has also defaulted Rs. 1.1 billion in excise duty up to now inflicting a massive loss to the Excise Department, according to a recent investigation by the Inland Revenue Department (IRD). This company has not paid necessary corporate income tax payment amounting to Rs. 2.63 billion and payment of VAT amounting to Rs. 3.55 billion to IRD during the previous regime and the IRD has taken legal action to recover these dues.

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