News

Sugar & wheat flour importers amassed billions in illegal profits!

Published

2 years ago

November 17, 2023

editor

The Committee on Ways and Means has advised the Inland Revenue Department to look into the country losing tax revenue due to sugar and wheat flour import restrictions and tax revisions.

At a meeting of the committee chaired by MP Patali Champika Ranawaka on Nov. 15, the IRD was also directed to initiate an investigation to look into how this lost tax revenue can be recovered.

Noting that an audit report had revealed that the slashing of the Special Commodity Duty on Sugar from Rs. 50 – Rs 0.25 had led to companies accumulating illegal profits of nearly Rs. 16 billion, the committee urged IRD officials to to an assessment with regard to these companies and collect the due taxes.

The committee chairman had also pointed out that the two main companies engaged in Wheat Flour importation had also accumulated large stocks as well as massive profits, amounting to billions of rupees.

News

Sri Lankans in Lebanon urged to be cautious

Published

42 seconds ago

June 17, 2025

editor

Amid the escalating conflict between Iran and Israel, the Sri Lankan Embassy in Lebanon has advised Sri Lankans to remain vigilant and exercise caution.

The Embassy has urged individuals to avoid crowded areas, nighttime outings, festivals, and long-distance travel temporarily.

Sri Lankans have also been advised to carry a copy of their Lebanese ID (Iqama ID) or passport when going outdoors.

They are also urged to contact the following numbers in any emergency.

News

Coastal line train service disrupted

Published

13 minutes ago

June 17, 2025

editor

Sri Lanka Railways says train services on the coastal line are experiencing delays due to damage to the railway track between Panadura and Moratuwa stations.