United States Virginia change
Sri Lanka Breaking News
Sri Lanka parliament
vivalankaSri Lanka newsSri Lanka businessSri Lanka sportsSri Lanka technologySri Lanka travelSri Lanka videosSri Lanka eventssinhala newstamil newsSri Lanka business directory
vivalanka advertising
Menu
Stay Connected
facebooktwittermobile
Popular Searches
T20 World Cup
Sponsored Links
Sri Lanka Explorer

Government to lose Rs. 90 b in Excise revenue due to disparate taxes

Mar 20, 2017 8:00:33 PM - ft.lk

By Ajith Perera
Excise tax has for long been a cornerstone of Government revenue, but thanks to disparate taxation and policy, the Treasury is incurring colossal losses at a time income has become an urgent need. 
Recent media reports cited that the Government will lose Rs. 50 billion in revenue from the legal tobacco industry due to excessive taxation, as Customs officials yesterday pointed to a growth of almost 2,000% in illegal cigarette smuggling over January and F