The Inland Revenue Department has collected nearly Rs. 700 billion in taxes in the first half of 2023.

Issuing a statement, the Department said the tax revenue in the first six months stood at Rs. 696,946 million.

According to the IRD, it is an increase of 93 per cent in comparison to the same period in 2022.

The Inland Revenue Department received Rs. 361.8 billion in taxes during the first six months of 2022.

The Department attributed the increase in revenue to the revision of tax policy, strengthening of the economy and the improvement in tax collection methods.

(newsradio.lk)

(Except for the headline, this story, originally published by newsradio.lk has not been edited by SLM staff)

It has been made mandatory for all filling stations belonging to the Ceylon Petroleum Corporation (CPC) to maintain a minimum fuel reserve of 50 percent.

CPC Managing Director Admiral Ravindra C Wijegunaratne said that the filling stations that fail to comply with this requirement will be taken under the CPC management.

He said that letters have been sent to 770 filling stations informing this regulation.

Accordingly, a filling station in Rajagiriya that failed to adhere to these regulations has now been taken under the CPC management.

Admiral Wijegunaratne said that a filling station in Karainagar, Jaffna will also be taken over by the CPC.

Sinopec Energy Lanka and the Board of Investment signed an agreement to operate and set up fuel stations for distribution in Sri Lanka.

The $100 million investment will be done for import, storage, and fuel sales.

It will involve 150 privately-owned fuel stations as well as building 50 new fuel stations.