VAT Scam: Notice on PB

1 July 2013 05:41 am Views - {{hitsCtrl.values.hits}} 26 Bookmark

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Colombo High Court has issued notice on Treasury Secretary P.B. Jayasundare to appear in Court on July 23, to give evidence in the country’s biggest VAT scam.

The Court also issued notices on Commissioner of the Inland Revenue Department to appear before the Court on the same day.

The VAT fraud committed against the Sri Lanka Inland Revenue Department said to be the biggest committed in South Asia caused a loss of Rs 357 million to the Inland Revenue Department.

Comments - 26

jayantha silva Monday, 01 July 2013 08:01 AM

The amount is in US$ not rupees.

1 10

Premalal Tuesday, 02 July 2013 01:20 AM

May they are not as intelligent as they say

0 5

sara100 Monday, 01 July 2013 02:45 PM

i think all these days the suspects are in the custody ...............what use ,,either they should be prosecuted or should be sent free

0 8

Josh Monday, 01 July 2013 12:38 PM

what about the fraud by IFS?? that was 9 billion.. any investigations??

0 6

VoiceOfLanka Monday, 01 July 2013 12:30 PM

Nothing, compared to say the annual cost of overseas tours by the President. People are now immune to such revelations.

0 6

Siripala Monday, 01 July 2013 11:12 AM

The National Statistics Office must know about this "missing trader" fraud. This is where fraudsters import high value goods into the country free of VAT. They then add VAT on the sale price but do not hand the levy over to the govt., pocketing instead.
The loss to the govt. is doubled when the goods are then exported again by another company which claim back the VAT, even though none has actually being paid in the first place.
VAT fraud is so rife that it is skewing the country's official trade figures.

0 8

be fair Monday, 01 July 2013 11:00 AM

What VAT, I cant remember.......!!!!!!!

1 16

BuffaloaCitizen Monday, 01 July 2013 11:00 AM

Not at all, this rat knows how to move with the other rats.

0 19

Calistus Jayatilleke Monday, 01 July 2013 10:47 AM

Wow, the Economic Hitman called to give evidence!

0 15

Namal Baby Monday, 01 July 2013 10:39 AM

PBJ is not a saint.. remember the LMS deal..? anyone..?

0 16

Roshan Monday, 01 July 2013 10:07 AM

PB is going to be another Vaas.

0 22

Sim Monday, 01 July 2013 08:18 AM

PBJ was found guilty but still holding Public Office. Wonder of Asia

0 10

MirakRajBanda Monday, 01 July 2013 08:08 AM

And there are lot of then and now ministers are behind this racket and that's the reason it take so long to investiage!!!!

Close the file now- It will save some extrra bucks of ours or if this goes on- After many, many years-Close the file.

0 7

John Primenda Monday, 01 July 2013 06:01 AM

The amount is peanuts. who says biggest amount in south South Asia $2.85 million

India Service tax (VAT)alone over one billion dollars scam in India .
UK VAT Scam £73 Billion

8 19

jayantha silva Monday, 01 July 2013 07:59 AM

Depends on who his friends are .....

0 9

Chams Monday, 01 July 2013 07:24 AM

Oh the convicted fraudster to give evidence on VAT scam! This is hilarious.

Suba anagathayak!

0 10

BuffaloaCitizen Monday, 01 July 2013 07:16 AM

Proportionate to the population and critera / level of business...this is extremely large, probably the highest in the world.

1 10

im Monday, 01 July 2013 07:10 AM

they need to put the boys our from prison.

0 8

Merv Monday, 01 July 2013 06:58 AM

Earlier reports said it was 3600 million, and all of sudden it is down to one tenth.

In Sri Lanka if you got the right connections you can even hide a whole pumpkin in a plate of rice

0 18

Renu Monday, 01 July 2013 06:38 AM

PBJ might have got a cut

1 24

Labby Monday, 01 July 2013 06:34 AM

357 million; is that such a large sum? Rajapakse brothers' monthly kickbacks might certainly be more.. And who's to access that ?

1 50

Eagle Eyes Monday, 01 July 2013 06:32 AM

The final outcome would be to appoint a committee and forget the matter. The Chintha Style. .

0 36

ANTON Monday, 01 July 2013 06:23 AM

GST : GOODS AND SERVICE TAX
VAT : VALUE ADDED TAX

AND NOW, FACT, FRAUD AND CORRUPTION ADDED TAX.

0 35

Dingimahattaya Monday, 01 July 2013 06:11 AM

The key culprit Kamil is hiding in Dubai, why our CID/ intelligent unit could not arest him
Dingi

0 34

chandi malli Monday, 01 July 2013 06:07 AM

Writers also should use their brains....

1 19

TreeHouse Monday, 01 July 2013 06:04 AM

Jayawewa !!

0 16

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