News
COPA: Rs 900 bn yet to be collected in taxes, penalties and interest
The Committee on Public Accounts (COPA) has questioned the failure on the part of the Inland Revenue Department to collect Rs 904 bn at a time the country was experiencing severe financial difficulties.
The Parliament said that the total arrears in taxes, penalties and interest, due to the Inland Revenue Department, by December 31, 2022 under RAMIS and Legacy systems, is Rs. 904,342,180,778 (904 billion).
It has been revealed that Rs. 163,425,093,401 (163 billion) can be collected without any legal concern, and Rs. 740,917,087,377 (740 billion) has been identified as revenue that has been temporarily suspended due to various reasons.
The Auditor General has also pointed out that this amount has been identified as tax arrears to be collected under both RAMIS and Legacy systems and there was a discussion at length about not collecting the revenue due that could be collected off this tax arrears.
Chairman of COPA State Minister Lasantha Alagiyawanna ordered that a report be submitted to COPA specifying how to collect the tax arrears at least in installments. The Chair also ordered that a separate report be given on the total outstanding tax amount of Rs 904 billion.
This was disclosed when the COPA met recently to review the current performance and progress of the Inland Revenue Department.
It was also revealed that the RAMIS computer system was not functioning properly and that there were no trained personnel to operate the system.
State Minister Diana Gamage, Members of Parliament Niroshan Perera, J. C. Alawathuwala, Sivagnanam Sritharan, Hector Appuhamy, Isuru Dodangoda, and (Dr.) Harini Amarasuriya were present at the Committee meeting .
Approval of the Cabinet of Ministers was granted to the preparation of the Appropriation Bill for the financial year of 2027 at their meeting held on 30.06.2026.
Accordingly, clearance of the Attorney General has been given to the Appropriation Bill prepared by the Legal Draftsman.
Therefore, the Cabinet of Ministers approved the resolution furnished by the President in his capacity as the Minister of Finance, Planning and Economic Development to publish the aforementioned draft bill in the government gazette notification and thereby submit the same to the Parliament for its concurrence.
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Cabinet approves aditional Rs. 2,500 million to the Paddy Marketing Board to purchase 2026 Yala harvest
The Cabinet of Ministers has approved the resolution furnished by the Minister of Agriculture, Livestock, Land and Irrigation to provide an additional Rs. 2,500 million to the Paddy Marketing Board on a reimbursable basis from the Rs. 7,500 million additional allocations granted to the Ministry to implement
the expedited paddy purchasing program for the 2026 Yala harvest.
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Cabinet nod to host the 8th Asian Regional Conference of the Commonwealth Parliamentary Association and the 3rd Joint Asian and South-East Asian Regional Conference of the Commonwealth Parliamentary Association
The 8th Asian Regional Conference of the Commonwealth Parliamentary Association (CPA) and the 3rd Joint Asian and South-East Asian Regional Conference of the CPA are planned to be held over three days in Colombo during April/May 2027.
Approximately 90 delegates including speakers, Deputy Speakers, Member of Parliamentarians, and Parliamentary officers representing member countries of the Commonwealth Parliamentary Association, in the Asian and South-East Asian regions, are expected to participate in these conferences.
The Cabinet of Ministers has approved the resolution furnished by the Prime Minister of the Parliament of Sri Lanka to host the said conferences considering the opportunities to strengthen parliamentary diplomacy and regional cooperation, as well as to enhance international recognition of the Parliament of Sri Lanka within the Commonwealth Parliamentary Association.
Draft of the Appropriation Bill for the Financial Year 2027 su mitted to the Parliament
Cabinet approves aditional Rs. 2,500 million to the Paddy Marketing Board to purchase 2026 Yala harvest
Cabinet nod to host the 8th Asian Regional Conference of the Commonwealth Parliamentary Association and the 3rd Joint Asian and South-East Asian Regional Conference of the Commonwealth Parliamentary Association
SAARC Training Workshop on Financial Modeling for Renewable Energy Projects from 5th to 7th October in Colombo
National Children’s Week from 25th September to 01st October
Nairobi and Munich to host 2029 and 2031 World Athletics Championships
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