- The Inland Revenue Department (IRD) is being questioned about the proper receipt of Value Added Tax (VAT) payments by the government.
- Currently, 13,000 institutions are registered for VAT and the IRD is investigating their payment of VAT to the government.
- The Committee on Public Accounts (COPA) discussed this issue during a meeting chaired by State Minister Lasantha Alagiyawanna.
- The COPA suggested that institutions collecting VAT should develop a system to ensure correct tax payments to the government.
- The COPA also recommended that the Department of the Registrar of Companies upgrade their system and connect with the RAMIS system.
- The COPA chairman instructed the IRD to provide a comprehensive report on tax levies and arrears to the committee.
- The IRD officials stated that 198,253 new taxpayers have been registered in 2023 and efforts are being made to include more citizens in the tax payment process.
- Various state ministers, members of parliament, and government officials were present at the meeting.
Source: adaderana.lk
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
