Dec 04, 2020

2 palm oil companies cause Rs. 6130 m loss to Sri Lanka Customs Featured

A loss of Rs 6130 million during the time period of 2013-2016 incurred by the Sri Lanka Customs due to two leading palm oil companies was brought to the attention of the Committee on Public Accounts (COPA) which was held yesterday (03).

An audit conducted by the Auditor General's Department revealed that the loss of money was due to the negligence on the part of Sri Lanka Customs officials having failed to clear specific goods under the Harmonized System (HS Code) within the relevant frame.

Several such irregularities have been taken up at the COPA meeting.

A media release by the Parliament's Department of Communication further states that since 2013, the government has lost a revenue of Rs. 220 million because importers have registered imported vehicles as dual-purpose vehicles for special purposes.

Accordingly, it was revealed that a minimum of Rs.1300 million amounting to 3 million each (443 × 3) could have been levied for 443 specialized vans during the periods from 2010-2019.

The full media release is as follows :

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