Sugar tax scam : Audit office urges recover Rs. 16b loss
One of the worst examples of corporate profiteering at the expense of ordinary citizens, has been given a resounding knock-out punch by Sri Lanka’s National Audit Office.
The National Audit Office, in a recent report, has recommended that the government immediately recover the revenue due to the state, lost by slashing taxes imposed on imported Sugar.
The report recommends monies be recovered from importers who made huge profits as a result of the tax cut.
Dubbed the infamous ‘Sugar Scam’ in Sri Lanka, it was alleged that it did not benefit consumers but massively benefited the importers gain unconscionable profits.