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Tax arrears due to lengthy judicial process – COPA
The Commissioner General of Inland Revenue H. M. C Bandara had informed the Committee on Public Accounts (COPA) that his department had not been able to recover billions of rupees in tax arrears due to lengthy judicial process and the attendant delays, COPA Chairman Prof. Tissa Vitharana told a committee meeting recently.
The COPA stressed the need to expedite the court process to recover the arrears and prevent delays and decided to summon the Ministry of Justice, the Ministry of Finance and the Inland Revenue Department for a discussion.
COPA chairman Prof. Vitharana said that the tax system should be streamlined and steps taken to change laws, if necessary.
The COPA also said that the amount of tax that needed to be recovered was higher than what was recorded. It informed the Inland Revenue Department that it should be resolved soon. The Committee directed the Commissioner General of Inland Revenue to submit a report by March 31, 2021.
The Committee also directed the Inland Revenue Department to expedite the recovery of tax arrears and fines.
The Committee also pointed out the importance of merging institutions including the Department of Motor Traffic, Land Registry Offices with the Department of Inland Revenue for the tax collection process. The Inland Revenue Department said 29 connected institutions had been identified thus far and the COPA Chairman said that the Inland Revenue Department and other agencies would be summoned to discuss the matter.
State Minister Lasantha Alagiyawanna, Members of Parliament Tissa Attanayake, Niroshan Perera, Mohamed Muzammil, S. Sridharan, Dr. Upul Galappaththi, B.Y.G Ratnasekera, and Weerasumana Weerasinghe along with a group of government officials were present at the meeting.
Chief of Staff to the President and National Security Advisor (NSA) Sagala Ratnayaka led the Sri Lanka delegation to the 20th IISS Shangri-La Dialogue, Asia’s premier Security Summit held in Singapore from 2 – 4 June 2023.
The highly anticipated summit commenced on 2 June with a powerful Keynote address delivered by Australian Prime Minister Anthony Albanese. Throughout the event, a series of plenary sessions delved into various crucial geo-political issues, encompassing the establishment of a stable and balanced Asia Pacific, the resolution of regional tensions, the evolution of maritime security in Asia, US leadership in the Indo-Pacific, and China’s latest security initiatives, among other topics.
During the Special Session focusing on ‘Defence Cooperation in the Indian Ocean Region,’ Ratnayaka delivered an impactful statement, participating alongside representatives from India, Oman, France, and the United States. He emphasized the significance of keeping big power rivalries and external conflicts out of the Indian Ocean, highlighting Sri Lanka’s efforts in the United Nations to declare the region as a zone of peace. Furthermore, he underscored the country’s contributions to preserving freedom of navigation and over flight, stressing the crucial need for constructive dialogue among all stakeholders in the Indian Ocean region to pursue shared interests.
The Cabinet of Ministers approved the proposal raised by the Minister of Health to reduce the maximum retail price of 60 medicines by 16% with effect from 15.06.2023 and review the price of medicines every three months
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