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COPF questions Inland Revenue Dept. on a wide range of subjects

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COPF chairman Dr Harsha de Silva and MP Ravi Karunanayake and committee officials at the last COPF meeting

The Inland Revenue Department (IRD) has been able to collect only 10 percent of taxes due from the eight million strong workforce, it was revealed during a probe conducted by the Committee on Public Finance of Parliament.

This was revealed during a COPE probe on IRD at the parliamentary complex on Tuesday (18), parliament sources said.

The COPF chaired by Dr. Harsha de Silva summoned to discuss the Inland Revenue (Amendment) Bill to amend the Inland Revenue Act, No. 24 of 2017.

The issue that IRD has only been able to collect taxes from 800,000 when there are approximately 8 million in the workforce came up when the Committee took into consideration the proposal that PIT (Personal Income Tax) relief to be increased from Rs. 1,200,000 per annum to Rs. 1,800,000 per annum under the Bill.

The Bill while proposing PIT relief be increased from Rs. 1,200,000 per annum to Rs. 1,800,000 per annum, also Income Tax rate on betting and gaming, tobacco and liquor industries to be increased from 40% to 45%.

Furthermore, export of services will be liable for income tax at the rate of 15% and proposals have also been made that Withholding Tax (WHT) rate on interest to be increased from 5% to 10%.

Considering PAYE data analysis in-depth, the COPF concluded that there is an error in the existing data. Accordingly, the Committee Chair directed the officials to provide an accurate data analysis to the Committee.

Moreover, it was also disclosed at the Committee on Public Finance that the implementation of obtaining a Taxpayer Identification Number (TIN) while being essential for paying taxes / importing/exporting or obtaining any services from the Inland Revenue, is not functioning. The Committee instructed the officials present to update the Committee on the status regarding the smooth execution of the process.

Considering the proposal on Income Tax rate on betting and gaming, tobacco and liquor industries to be increased from 40% to 45% the Committee expressed its dissatisfaction over the failure of the Ministry to duly establish a casino regulator. Furthermore, the Committee Chair also expressed its dissatisfaction given that the Inland Revenue Department had failed to provide proper data requested by the Committee previously on the revenue received from Casino operations of the last five years.

The Committee also questioned official present regarding having to pay 25% against a tax appeal. The Committee questioned if it is ethical to demand a cash deposit instead of a bank guarantee when making an appeal.This meeting was attended by Deputy Minister Dr Harshana Suriyapperuma along with MPs Ravi Karunanayake, Wijesiri Basnayake, Nimal Palihena.



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We aspire to build a nation where all citizens coexist in peace and resilience for the future generation -PM

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Prime Minister Dr. Harini Amarasuriya stated that the government is ready to listen to the people and aspire to ensure a peaceful and united nation for future generations.

The Prime Minister made these remarks while addressing public gatherings on April 20 at the Manik Farm Community Development Centre in Settikulam and the Ukkulankulam Ground in the Vanni electoral district.

The current Parliament has the highest number of female representation in its history. Previously, women constituted less than 5% of Parliament out of the total number of 225  However, 52% of the country’s population are women.

Women play a significant role in sustaining the economy, maintaining family structures, and upholding society yet their representation in decision-making bodies has been limited. Therefore, we urge you to elect not only male representation to Parliament but also more female representatives from the Vanni district.

Vavuniya is currently developing into a thriving city. Therefore, essential services expected from provincial councils must be effectively delivered. Local government bodies should actively participate in the development of the rural sector.

We recognize that education holds significant value for the people of the North. You place great importance on education. However, the country’s education system has deteriorated and weakened. Specifically, the lack of necessary attention to the education sector in the North has made it more challenging compared to other regions. Moreover, I have learned of a more alarming issue that the diminishing value placed on education by young men and women. Clandestine Drug Distribution and alcohol are now readily visible in everywhere. There are no avenues for youth to find joy while avoiding these substances. The underdevelopment of fields such as science, arts, and drama has left them without means to find happiness. Therefore, significant interventions must be necessary.

If you elect a group that is free from corruption and fraud, we can allocate funds without hesitation, ensuring they reach the appropriate hands. These funds can then be directed towards the development of your village. That is why your choice is important.

The events were attended by Deputy Minister of Co-operative Development, Upali Samarasinghe, Vavuniya District MPs S. Thileepan and M. Jegatheeswaran, along with the local government candidates and residents.

[Prime Minister’s Media Division]

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Exposition of sacred tooth relic extended by an hour –

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[file pic]

The Sri Dalada Maligawa has announced that due to the large number of devotees coming to Kandy to venerate the sacred tooth relic, the  time of exposition of the sacred tooth relic has been extended by an hour.

Accordingly the public can pay homage from 11.30am upto 05.30pm from today [21]

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Pope Francis has died at the age of 88, Vatican says

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Pope Francis has died at the age of 88, the Vatican has announced.

His Eminence, Cardinal Farrell, announced with sorrow the death of Pope Francis, with these words: “Dearest brothers and sisters, with deep sorrow I must announce the death of our Holy Father Francis. At 7:35 this morning (local time), the Bishop of Rome, Francis, returned to the house of the Father. His entire life was dedicated to the service of the Lord and His Church.” “He taught us to live the values ​​of the Gospel with fidelity, courage and universal love, especially in favour of the poorest and most marginalised.”

Farrell adds: “With immense gratitude for his example as a true disciple of the Lord Jesus, we commend the soul of Pope Francis to the infinite merciful love of the One and Triune God.”

Francis’s papacy heralded many firsts and while he never stopped introducing reforms to the Catholic Church, he remained popular among traditionalists.

He was the first Pope from the Americas or the southern hemisphere. Not since Syrian-born Gregory III died in 741 had there been a non-European Bishop of Rome.

He was also the first Jesuit to be elected to the throne of St Peter – Jesuits were historically looked on with suspicion by Rome.

Francis’s predecessor, Benedict XVI, was the first Pope to retire voluntarily in almost 600 years and for almost a decade the Vatican Gardens hosted two popes.

As Cardinal Bergoglio of Argentina, he was already in his seventies when he became Pope in 2013.

[BBC]

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