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Sri Lanka's Perpetual linked W M Mendis to re-start alcohol production: report


Monday July 5, 2021
9:35 am
Monday July 5, 2021
9:35 am
ECONOMYNEXT – Sri Lanka has allowed W M Mendis & Company Ltd, an alcohol maker linked to the Perpetual group of companies to re-start production and pay billions of rupee owed in taxes in installments, a media report said.
Sri Lanka’s The Sunday Times newspaper said tax authorities found W M Mendis owed 3.55 billion rupees in unpaid Value Added Tax and 2.63 billion rupees in Corporate taxes to the Department of Inland Revenue.
A further 1.1 billion was owned to the Excise Department.
The report said the firm had been allowed to resume operations provided it paid the taxes in installments. ....

Sri Lanka , Department Of Inland Revenue , Wm Mendis Company Ltd , Company Ltd , Sunday Times , Value Added Tax , Perpetual Group , ஸ்ரீ லங்கா , துறை ஆஃப் உள்நாட்டு வருவாய் , நிறுவனம் லிமிடெட் , ஞாயிற்றுக்கிழமை முறை , மதிப்பு வரி ,

Govt seeking revenue boost from real estate VAT increases


Govt seeking revenue boost from real estate VAT increases
Prime Minister Dr. Hubert Minnis delivers the 2021/2022 budget communication in the House of Assembly yesterday. TORRELL GLINTON
Approximately $50 million of revenue enhancement measures were announced yesterday by Prime Minister and Minister of Finance Dr. Hubert Minnis, including the government’s aim to generate $31 million from charging value-added tax (VAT) on the full value of vacation rental properties and an additional $4 million from an increase in VAT on luxury real estate transactions.
Following amendments to the Value Added Tax Act in 2019, vacation rental marketplaces such as Airbnb began to charge VAT on guest service fees on behalf of host property owners and remit those funds to the government. According to Airbnb, most guests pay a service fee that is under 14.2 percent of the booking subtotal. However, the prime minister said the government’s intention is to have VAT charged on the total v ....

Hubert Minnis , Department Of Inland Revenue , Central Bank , House Of Assembly , Bahamas Hotel , Tourism Association Robert Sands , Prime Minister , Value Added Tax Act , Vacation Rentals By Owner , Inland Revenue , Value Added Tax , துறை ஆஃப் உள்நாட்டு வருவாய் , மைய வங்கி , வீடு ஆஃப் சட்டசபை , பஹாமாஸ் ஹோட்டல் , ப்ரைம் அமைச்சர் , விடுமுறை வாடகைகள் வழங்கியவர் ஓநர் , உள்நாட்டு வருவாய் , மதிப்பு வரி ,