IRD told to report on unrecovered billions

State Minister of Finance Dr. Ranjith Siyambalapitiya has asked the Inland Revenue Department (IRD) to provide an urgent report on the issues uncovered by the Public Accounts Committee  regarding the Inland Revenue Department’s inability to recover Rs.773 billion as arrears of tax and penalty interest, Rs.200 billion worth of cheques and problems with the Ramis system.

These facts were revealed when Inland Revenue Department officials were summoned to the Public Accounts Committee in Parliament on November 28. In the relevant discussion, the Auditor General mentioned that Rs.201 billion can be recovered from the Rs.773 billion mentioned as arrears of tax and penalty interest without any legal issue.