Five companies fined Rs. 1,243 Mn for illegal gold imports
State Finance Minister Dr. Ranjith Siyambalapitiya said that five companies have been identified for illegally importing gold into Sri Lanka during the past few years, and fines of Rs.1,243 million have been imposed on those companies.
The Minister said that one of the related companies was ordered to pay Rs.179 million as fines. Emphasising that from now on, all licensed institutions carrying out import of gold goods should avoid these illegal acts, the Minister said that the relevant institutions will also be charged fines for the gold purchased by even third parties considering the production reports.
He said the efforts to stabilise the state revenue of the country are currently being carried out by closing all the loopholes related to the loss of state revenue gradually.
Certain parties who import gold goods have turned this into a big racket and therefore there is a mafia around it.There were various challenges and threats when the government tried to curb this mafia initially.
The Minister further said that there were various levels of threats, pressure and intimidation, and the government did not waver in the face of all these challenges and moved to the second step.
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