Connect with us

News

State FM calls for report from IR, admits difficulty in punishing racketeers

Published

on

Sugar tax scam: National Audit Office estimates Rs 16.7 bn revenue loss

By Shamindra Ferdinando

State Minister of Finance, Economic Stabilisation and National Policies Ranjith Siyambalapitiya has asked for a report from the Inland revenue Department on the income tax returns of sugar importers who have allegedly benefited from an unprecedented reduction of duty on a kilo of sugar on 13 Oct., 2020.

The gazette pertaining to the duty reduction (Special Commodity Levy) from Rs 50 per kilo to 25 cents was issued by the Finance Ministry during the tenure of the then Prime Minister Mahinda Rajapaksa, who also served as the Finance Minister. S. R. Attygalle served as the Finance Secretary at the time.

State Minister Siyambalapitiya revealed his decision to call for a report during a visit to the Inland Revenue head office on Thursday (22).The Ministry spokesperson quoted Minister Siyambalapitiya as having told Inland Revenue Department officials that losses caused by the duty reduction couldn’t be recovered by re-imposing the duty even if a fraud had been perpetrated in the process. The State Minister was further quoted as having said that it wouldn’t be an easy task to punish those responsible for

the duty reduction. Those responsible could claim that their intention was to bring down the price of sugar, the SLFPer has said.The State Minister has intervened in the sugar tax scam in the wake of the National Audit Office recommending the recovery of revenue losses from those sugar importers. The National Audit Office has conducted a special audit to examine whether consumers benefited at all as a result of the sharp reduction of sugar tax.

The special audit revealed that within four months of reducing the tax (14th October 2020 to 8th February 2021) the cash-strapped government was deprived of tax revenue of a whopping Rs. 16.763 Billion.The audit investigation named one of the main sugar importers recorded a massive profit of some 1,222%.

The report underscored that the tax reduction did not provide relief to the people, but greatly benefited the importers and traders.The former Chairman of the Committee on Public Finance SLPP MP Anura Priyadarshana Yapa declared that consumers didn’t benefit from the duty reduction.



News

Six member committee appointed to inquire into Sri Lanka Cricket Team’s conduct in Australia

Published

on

By

Minister of Sports and Youth Affairs Roshan Ranasinghe has appointed a six member committee headed by Retired Supreme Court Judge Kusala Sarojini Weerawardena to inquire into the incidents reported against some members of the Sri Lanka Cricket team that participated at the ICC T20 World Cup in Australia.

 

 

Continue Reading

News

SJB MP: Most parents have to choose between food and children’s education

Published

on

By Saman Indrajith

Most Sri Lankan parents are compelled to choose between food for their families and their children’s eduction, SJB Matale District MP Rohini Kumari Wijerathne told Parliament yesterday.

Only a few parents were able to feed and educate their children the MP said, participating in the debate on Budget 2023 under the expenditure heads of Ministries of Education and Women and Child Affairs.

“An 80-page exercise book costs Rs. 200. A CR book costs Rs 560. A pencil or pen costs Rs 40. A box of colour pencils costs Rs 570 while a bottle of glue costs Rs 150. If the father is a daily wage earner he has to spend one fourth of his salary on a box of colour pencils for his child. A satchel now costs around Rs 4,000. A pair of school shoes is above Rs 3,500. The Minister of Education knows well how many days a child could use an 80-page exercise book for taking notes. Roughly, stationery cost is around Rs 25,000 to 30,000 per child, MP Wijerathne said, adding that only Rs. 232 billion had been allotted for the Ministry of Education by Budget 2023.

“After paying salaries of teachers and covering officials’ expenses, etc., there will be very little left for other important matters,” the MP said, noting that Sri Lanka would soon be known as the country that made the lowest allocation of funds for education in the South Asian region.

Continue Reading

News

All crises boil down to flaws in education system, says Dullas

Published

on

By Saman Indrajith

All the crises Sri Lanka was beset with were due to the country’s outdated education system, MP Dullas Alahapperuma told Parliament yesterday.

“The political and economic crisis we are facing is the direct result of our education,” he said.

The Sri Lankan education system had not changed with global developments. Our system is not even geared for employment. Our examination system is antiquated and our classrooms are in the 19th Century.

However, the students belong to the 21st century. How can you cater to 21st Century children under an outdated system?” he queried.

Continue Reading

Trending