News

Sumanthiran says regular tax amnesties only encourage more people to evade

Published

4 years ago

2021/09/8

Provisions of the Finance Bill would be detrimental to the country, TNA MP M.A. Sumanthiran told Parliament yesterday, calling on the government not to pass the Bill.

Participating in the debate on the Finance Bill, the TNA MP said, “For the first time in the history of this country, we have tax amnesty being declared through a legislation titled Finance Act. Previously, those Bills said were quite open, they were called Tax Amnesty Bill, or Inland Revenue amendments, but here some important issues as to what the objective of this Act, I say is being covered up by the title of the Act which is Finance Act”, he said.

MP Sumanthiran observed that the amnesty that was being granted was not the first time, not the second time, not the third time, from the 1960s several times amnesties had been granted.

“This matter was discussed at length in the public finance committee of Parliament, and all senior officials, I am sure many of them are here in the box today, repeatedly said that they concede that you must not do it from time to time, amnesties must never be given from time to time. It must be a one off, and that’s it. Because once the country gets used to, the fact that after a few years another opportunity will arise for amnesty that encourages people to make money and not declare it. You might bring them into the tax net. That’s a second justification that is made for tax amnesty, but the primary problem that we have in this country is that we don’t have a proper mechanism to collect our revenue, now that is conceded by everybody, so without fixing that problem, there is no point.

“I will get on to the two important issues, one is that, in section 7 of this Act, there is secrecy, now this is what we pointed out in court as well, where it said absolute secrecy and later official secrecy, fortunately in the Supreme Court the Attorney General said they will change the wording to absolute secrecy to official secrecy but nevertheless the concern remains. Once you have this provision then how that person came by that money, came by that taxable supply can never be gone into and although the speaker from the government ranks, who preceded me, said that terrorist financing, money laundering all of that is exempt from this, yes, it says it is exempt from this, but money earned through those processes can be brought in and you cannot go after that person on that account, and all you have to do is under section 5 is deposit in an account. You can take it out the next day, the justification is that the money is coming into circulation, but it doesn’t prescribe a minimum period for which the money must remain or invest in a property. You can invest in a property and sell it the next day. So this is not a desirable provision that is being made, the tax commission report of 2009 has recommended to the government not to do this, that this doesn’t bring in the desired results, the Chairman of the Commission is the present Governor of the Central bank, so I say, urge the Minister to abandon this process that is called a tax amnesty, country will lose, according to revenue officers’ trade union who have publicly said, which has not been counted that 300 billion loss will be incurred by the country as a result of this act and no government official has still counted that.”

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Colombo Metropolitan Region, Eastern Development Plan and the Greater Hambantota Project discussed in detail

Published

3 hours ago

2025/04/9

Priyan

A meeting between Secretary to the President, Dr. Nandika Sanath Kumanayake and relevant ministry officials was held on Tuesday (08) at the Presidential Secretariat regarding the development plans to be implemented in Sri Lanka under three zones, in collaboration with the Surbana Jurong Institute of Singapore and 18 Ministries.

During the meeting it was discussed in detail regarding the plans for the Colombo Metropolitan Region, Eastern Development Plan and the Greater Hambantota Project. The officials from Singapore-based urban planning and infrastructure consultancy Surbana Jurong also joined the discussion virtually.

Progress reports on the three projects were reviewed in detail and Dr. Kumanayake instructed the officials to identify any deficiencies and finalize the necessary actions within the next two weeks.

The discussion also addressed delays in securing necessary approvals for investments under the existing regulatory framework, as well as the urgent need to revise certain legislative instruments to better facilitate national development.

The meeting was attended by Secretary to the Prime Minister G.P. Saputhanthri, Senior Additional Secretary to the President Russel Aponsu, Secretary to the Ministry of Urban Development, Construction and Housing U.G. Ranjith Ariyaratne, and several senior officials from the respective ministries.

News

Heat index at ‘Caution level’ in Northern, North-central, Eastern, North-western, Western provinces and Monaragala district today [09]

Published

8 hours ago

2025/04/9

Priyan

The Natural Hazards Early Warning Centre of the Department of Meteorology has issued a Warm Weather Advisory for 09 April 2025

The public are warned that the Heat index, the temperature felt on human body is likely to increase up to ‘Caution level’ at some places in Northern, North-central, Eastern, North-western, and Western provinces and in Monaragala district.

The Heat Index Forecast is calculated by using relative humidity and maximum temperature and this is the condition that is felt on your body. This is not the forecast of maximum temperature. It is generated by the Department of Meteorology for the next day period and prepared by using global numerical weather prediction model data.

Effect of the heat index on human body is mentioned below is prepared on the advice of the Ministry of Health and Indigenous Medical Services.

ACTION REQUIRED

Job sites: Stay hydrated and takes breaks in the shade as often as possible.
Indoors: Check up on the elderly and the sick.
Vehicles: Never leave children unattended.
Outdoors: Limit strenuous outdoor activities, find shade and stay hydrated. Dress: Wear lightweight and white or light-colored clothing.

Note:
In addition, please refer to advisories issued by the Disaster Preparedness & Response Division, Ministry of Health in this regard as well. For further clarifications please contact 011-7446491.

News

Sajith asks govt. to submit its MoUs with India to Parliament

Published

11 hours ago

2025/04/9

Sahan Weerasooriya

Prof. Jayasumana raises possibility of Lanka ending up with “Quad’

Opposition and SJB Leader Sajith Premadasa has said it is the responsibility of the NPP government to submit the MoUs/agreements that were recently signed with India to the respective Sectoral Oversight Committees (SOCs).

Premadasa said so when The Island raised the issue with him. He said that during his meeting with Premier Modi his focus had been on opening the Indian market for Sri Lankan garment exports.

The seven MoUs/agreements signed on 05 April included defence cooperation, energy, Eastern Province development and digitalisation.

Meanwhile, the Vice President of Sarvajana Balaya and former lawmaker Prof. Channa Jayasumana said that the government owed an explanation whether the recently signed MoU on defence cooperation directly or indirectly attached Sri Lanka to the Quad security alliance, consisting of the US, Australia, Japan and India.

The former SLPPer raised the issue at a meeting held at Boralesgamuwa on Monday (07) in support of Sarvajana Balaya candidates contesting the May 6 LG polls.

Prof. Jayasumana urged that the MoU on Defence Cooperation be placed before Parliament, and the people, without further delay. The academic who served as State Health Minister during President Gotabaya Rajapaksa’s tenure said that President Anura Kumara Dissanayake’s foreign policy direction should be dealt with.

By Shamindra Ferdinando