Jul 01, 2017

The rich evade taxes amounting to almost 300 billion

By the end of last year, the Inland Revenue Department and the Excise Department had failed to collect almost Rs. 300 billion (2,978,842 million)  in taxes due, it was revealed.

This was revealed in the Auditor General’s response to the Finance Ministry report.

By December 31, 2016 the unpaid taxes due was Rs. 182,078 million and the penalty due for this amount stood at Rs. 113,219 million.

Meanwhile, the amount in taxes completely evaded stands at Rs. 2,540 million.