9 October 2023 04:38 am Views - 1579
Local professionals leaving Sri Lanka for greener pastures owing to the country’s present heavy taxing policies could be prevented if the government takes measures to seize massive Excise frauds and save tax revenue for the state coffers, was the opinion of Dr. Harsha de Silva.
Samagi Jana Balawegaya Parliamentarian said due to massive fraud in the Excise industry, the country is losing large tax revenue to the government and if this could be prevented, then the country could retain the professionals migrating owing to heavy taxing.
The senior economist made these remarks addressing a press briefing at the Opposition Leader’s office yesterday and said that the fake security sticker pasted on the liquor bottles had incurred a loss of Rs.80 to 100 billion to the country annually.
“The government should look into these issues soon, as the International Monetary Fund will inquire about these massive frauds before they would authorize the next tranche. There are senior Excise officials behind this scam and the solution to prevent this is to transfer to a digital security sticker system,” he said.
The SJB MP said by introducing a new digital security code, the fraud could be minimized, and the correct information could be retrieved. To print a security sticker on a liquor bottle would cost about Rs.1.90, and it will take only 20 cents to imprint a digital security code on the bottle.
“These new security measures on the liquor bottles should be made mandatory on all liquor producers to prevent massive frauds and the government should act fast on this,” Dr. de Silva further said. (Kurulu Koojana Kariyakarawana)