Monthly income of the Excise Department has increased by one billion rupees after checking the fake stickers on liquor bottles – revealed in the SOC Committee

Officials of the Excise Department revealed to the Sectoral Oversight Committee on National Economic and Physical Plans that the monthly income of the Department has increased by one billion rupees after checking fake stickers on liquor bottles.

Above was revealed when the Sectoral Oversight Committee on National Economic and Physical Plans met in Parliament recently (29) under the chairmanship of Member of Parliament Mahindananda Aluthgamage.

The Excise Department, Inland Revenue Department and Sri Lanka Customs were summoned to the committee to discuss the matters mentioned in the report given to the President by the Sectoral Oversight Committee on National Economic and Physical Plans.

Accordingly, the committee inquired about the amendment of the Excise Ordinance Act. Also, the committee pointed out the need to maintain the revenue that the Excise Department has increased so far and the continuation of random raids will further reduce the affixing of fake stickers on liquor bottles.

The Inland Revenue Department was also asked about the current functioning of the RAMIS system. Thus, the committee also examined the current status of linking this data system with other government institutions. The officials presented at the committee mentioned that this data system will be made functional by January 2024 by avoiding the existing deficiencies. Also, the Inland Revenue Department said that the number of tax files is currently around 7 lakhs and it is expected to increase up to 10 lakhs in the future.

Apart from this, the committee also advised the officials to focus on preparing a system for evaluating the parties who pay income tax correctly.

Also, the committee pointed out that by amending the laws related to customs, the customs can reach a tax amount that exceeds the expected tax revenue. Also, it was discussed in length about the measures to be taken by the customs to collect the tax due.