|
|
|
  |
| Sunday, 15 May 2005 |
 |
|
 |
News |  |
| News Business Features Editorial
|
Tax Dept to reap harvest of Rs. 302 b by Anura Maitipe The Inland Revenue Department has recovered Rs. 1 billion that had been held back by companies and persons under the tax amnesty granted by the previous regime which was later repealed by the UPFA government on October 2004. The Department has taken initiatives to collect Rs. 302 billion from all forms of taxes in order to meet the budget target of year 2005, Inland Revenue Department Deputy Commissioner General M.S.B.A. Senaviratne told the Sunday Observer. He said that penalty charges would not be enforced on those who would pay these taxes in time. In the event of failure to pay taxes before the due date they will be compelled to pay penalty charges, he warned. The set target of Rs. 302 billion would be collected from the GST, income tax, defence tax, turnover tax, import and export duty etc. The department has also identified new companies and persons liable to pay taxes while auditing new files. They have already been informed to pay their taxes before the end of year 2005, he added. If they fail to pay, the Department under the powers vested on the Commissioner General of Inland Revenue would take legal action against tax evaders, he said. The Inland Revenue Department has also taken initiatives to re-set the special unit that had been closed down by the previous government with the grant of tax amnesty and the restructuring process of the Inland Revenue Department which has commenced already, he added. |
|
| News | Business | Features
| Editorial | Security
| Produced by Lake House |
