This Govt was about to fine your local shop Rs. 1 million for not registering for VAT.
The same Govt that let online casinos pay nothing.
The same Govt where the National Film Corporation collected VAT and didn't remit it.
The same Govt applying a tax that's actually 22%, not the 18% they advertise.
Expanding the tax base is right. But it must be equitable, not a system that squeezes the small trader while the powerful walk free.
We raised it at COPF. We raised it in @ParliamentLK. 95% of public responses said this was wrong.
Today they backed down. The threshold stays at Rs. 60 million. That's not their win. That's yours. 🇱🇰
#SriLanka #COPF #VAT #SSCL #PeopleWin #Accountability #LKA
The agreement between Iran and the US lays out the terms of the ceasefire between the bitter rivals, the reopening of the Strait of Hormuz, some financial relief for Iran and a reiteration from Tehran that it will never produce a nuclear weapon, according to a draft copy of the text obtained by CNN. https://t.co/hgK0BaUG3A
A 41-year-old suspect was arrested in the Horombawa area of Narammala on Sunday (14) after police intercepted a container truck carrying a large quantity of imported goods allegedly brought into the country without paying customs duties.
The arrest was made by officers of the Kuliyapitiya Divisional Crime Investigation Bureau following a tip-off. The suspect, a resident of Horombawa, was handed over to the Kuliyapitiya Police for further investigations.
Police said the container was found carrying 190 bottles of foreign-manufactured liquor, motorcycle parts, 42 motorcycle chassis, 44 motorcycle engines, bicycles and bicycle parts, six forklifts, three excavators, agricultural equipment and various household items.
Officers attached to the Police Special Task Force camps in Kurunegala and Puttalam were also called in to assist with the inspection of the container.
Further investigations are being conducted by the Kuliyapitiya Police. (Newswire)
After my absolute refusal to accept postponement of the summons, the Secretary to Treasury and senior officials attended the COPF meeting along w @CBSL. All members of the Commitee were present and participated in the meeting in a most professional manner immaterial of political affiliations.
It was revealed that 10 payments totalling USD 2.5m had been robbed from the treasury from Oct 25 through Jan 26.
Notwithstanding red flags being raised the process had continued and officials had made payments upon approvals being obtained from multiple reporting layers. We were astonished to find the massive gaps in procedure which had been manipulated to commit this crime over four months. Serious questions remain as to why audits did not pick up the tell tale discrepancies.
While it is the duty of law enforcement to track down criminals our responsibility is to continue oversight on public finance in general and in this case debt repayment in particular. On that count, I took the strong position that it was the duty of the Treasury to inform us and not be told by outsiders. Their excuse of sensitive nature of the matter etc was not accepted.
ST had obligations under several Acts and FRs to inform the FIU within 48 hours, to get an initial report within 7 days and have the complete report submitted to Auditor General and Parliament within 3 months etc. While there is discrepancy on when exactly the Treasury found out about the crime, they informed us that they had initiated all such action, evidence for which we directed the officials to submit to us along with all relevant details.
Next session on the matter will be held in four weeks at which point we will decide on further action.
#SriLanka #cybercrime
Members of the Committee on Public Finance concurred with my strong position that Secretary Ministry of Finance and Governor @CBSL be summoned to committee immediately to answer queries on the alleged USD 2.5 million debt payment scandal. Accordingly #COPF will meet on Thursday 30 April afternoon in Parliament. #SriLanka #debt #hacking #cybercrime
Sri Lanka is probing the theft of $2.5 million by hackers who breached the Finance Ministry’s computer systems, Treasury Secretary Harshana Suriyapperuma said https://t.co/vtwuUuk9Nv
What happened to $2.5 million of the Sri Lankan peoples’ money?
Disappeared! This is not just negligence. This is a failure we warned about.
When debt operations were moved from the @cbsl to the Treasury's PDMO, the #COPF repeatedly urged the Treasury to hire competent, experienced staff. Managing a sovereign nation's debt in global financial markets is not a clerical task. Those warnings were ignored.
Now we are paying the price, and the question is technically, has #SriLanka defaulted on payments as the creditor is alleged to have not received five debt payments?
This comes as the MoF has failed to appear before COPF for three consecutive meetings: on gaming regulation, Q4 2025 fiscal performance, and the critical discussion on fiscal-monetary policy coordination. In over 15 years in @ParliamentLK I have never seen this level of contempt for parliamentary oversight.
This morning, we wrote to the Sec of the Treasury. Parliament is constitutionally responsible for public finance. We have yet to receive a response on how or when this happened, and why MoF/CBSL has been silent all this time.
This is not a political issue. Regardless of where we stand, we must come together to address this, hold those responsible accountable, and rebuild the trust our country has worked so hard to restore. The people of #Srilanka deserve nothing less. #accountability #publicfinance
Watch full statement: https://t.co/lrLOVfMoSn