News
105,000 registered limited liability companies but 82 percent of revenue comes from just 382
There were about 105,000 registered limited liability companies in the country, but 82 percent of the tax revenue came from only 382 such firms, Chair of the Sectoral Oversight Committee on National Economic and Physical Plans Mahindananda Aluthgamage said.
Referring to personnel income tax files, Aluthgamage said that though there were 500,000 personal income tax files in the country, only 31,000 persons paid taxes.
The Chair also emphasised that it was important to maintain a low inflation, the reserves of the country and the government’s income in an optimal condition by December at the time of the second review of the International Monetary Fund,given that the said factors must be taken into account when granting loans. Therefore, the Chair said that his Committee will hold regular discussions with Sri Lanka Customs, Excise Department and Inland Revenue Department to provide necessary facilities to increase the state revenue.
He stated the above when the Sectoral Oversight Committee on National Economic and Physical Plans met in Parliament recently (06 June)
The Chair spoke at length about the failure of the Inland Revenue Department to collect the tax revenue and stated that the Committee is making positive improvements in this regard. There was also a discussion about the collection of 904 billion rupees in arrears which is due to the Inland Revenue Department.
Mahindananda Aluthgamage said that he would also provide his utmost assistance to fill the existing employee vacancies in the Inland Revenue Department.
The Inland Revenue Commissioner General who spoke on the occasion said that he appreciated the support received from the Sectoral Oversight Committee on National Economic and Physical Plans to make the work of his department efficient.
The Commissioner stated that the tax revenue target given by the government for the year 2023 of Rs 1.6 trillion was expected to be earned by 40% in the first 6 months and 60% in the remaining 6 months, and the target for the first 6 months has already been met. Apart from the said, he stated that work is being done to generate expected tax revenue in the remaining 6 months.
The Chair mentioned that there is a need to establish a systematic mechanism to regulate the collection of tax revenue. Members as well as officials pointed out that due to the fact that the data provided for the registration of companies in this country is not true, they have to face problems in tax collection.
The Committee also discussed at length the need to establish a digital data system linking the Sri Lanka Customs Department, the Excise Department and the Inland Revenue Department as soon as possible, as well as the need to re-register the private tax files in the country.
The Royal Navy of Oman Vessel “SADH” arrived at the Port of Colombo on a logistics replenishment visit on Tuesday (10 Feb 26). The Sri Lanka Navy welcomed the visiting ship in
compliance with naval traditions.
The 75m – long ship is commanded by Lieutenant Commander Shaheen Saud Abdul Rahman AI Balushi.
The port call will facilitate professional interaction and goodwill exchanges between the two navies.
During the stay in Colombo, crew members of the ship are expected to visit some tourist attractions in the city of Colombo.
* New Auditor General should not have been sworn in before Speaker – Opp.
* Suspended House Dy. Sec. Gen. Chaminda Kularatne takes his case to CA today
General Secretary of the National People’s Power (NPP) Dr. Nihal Abeysinghe yesterday said that there was no need for Speaker Dr. Jagath Wickramaratne to step down in view of the complaint lodged against him with the CIABOC (Commission to Investigate Allegations of Bribery or Corruption).
NPP General Secretary said so in response to The Island query whether the parliamentary group of the ruling party discussed the growing Opposition calls for the Speaker, who is also the Chairman of the Constitutional Council, to step down to facilitate the investigation.
The NPP parliamentary group consists of 159 MPs, including 18 National List (NL) members.
NL member Dr. Abeysinghe asked whether any other person, who had been investigated by the CIABOC, stepped down from his or her position to facilitate the inquiry.
The top official emphasised that the CIABOC could go ahead with its investigation without any hindrance.
Chamindra and Dr. Jagath
Opposition sources said that there hadn’t been a similar situation before and the CIABOC investigation into Speaker Dr. Wickramaratne is unprecedented as he heads the 10-member CC responsible and directly involved in all key appointments, including that of members to the CIABOC.
Sources pointed out that the newly appointed Auditor General, Ms. Samudrika Jayaratne, took the oath of secrecy before the Speaker on 5 February in Parliament after suspended Deputy General Secretary of Parliament Chaminda Kularatne complained to CIABOC.
In accordance with Section 9 of the National Audit Act, No. 19 of 2018, Jayaratne took the oath of secrecy in her capacity as the Auditor General of the National Audit Office and Chairperson of the Audit Service Commission.
Sources said that Kularatne would move the Court of Appeal today (10) against his removal at the behest of the Staff Advisory Committee, headed by the Speaker.
By Shamindra Ferdinando
The Trincomalee Magistrate’s Court yesterday (09) further remanded 10 persons, including four Buddhist monks, arrested on 19 January, 2026, for allegedly placing a Buddha statue in the coastal reservation, on 16 January.
The Buddhist monks, including Ven. Balangoda Kassapa Thera, and six other individuals, were further remanded until 11 February.
They have been accused of violating the Coast Conservation Act by placing a Buddha statue on a block of land belonging to the Trincomalee Bodhiraja Temple.
Of the four monks, Ven Balangoda Kassapa Thera and Ven Trincomalee Kalyanawansa Tissa Thera moved the Court of Appeal against the Magistrate’s Court decision. The case was heard on 22 January before a Bench comprising the President of the Court of Appeal, Justice Rohantha Abeysuriya, and Justice K. Priyantha Fernando.
Manohara de Silva, PC, and President’s Counsel Uditha Igalahewa, PC, appearing for the petitioners, urged the Court to take up the matter urgently, describing it as a case of exceptional importance.
However, the Court of Appeal on 3 February dismissed the petitions against the remanding of Ven Balangoda Kassapa Thera and Ven Trincomalee Kalyanawansa Tissa Thera.
The order was issued by the Court of Appeal bench consisting of the President of the Court of Appeal, Justice Rohantha Abesuriya and Justice Priyantha Fernando.
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