Wednesday, 09 October 2024 13:01

IRD launches ambitious tax recovery programme Featured

Sri Lanka’s Inland Revenue Department (IRD) has launched a special initiative to recover Rs. 570 billion in outstanding taxes from certain taxpayers under the self-assessment payment system, with a deadline of November 30.

According to IRD Deputy Commissioner General N.M.N.S.B. Dissanayake, the IRD has collected Rs. 1,455 billion in taxes so far this year, meeting 71 percent of its annual revenue target. He noted that under the self-assessment payment system, there are instances where some taxpayers intentionally underestimated their taxes.

“We have identified instances where taxes were underestimated under this method. We are taking necessary measures to collect the correct tax amount with fines,” Dissanayake added.

Under the special programme launched this week on October 7, he revealed that IRD officials are conducting field visits to the premises of these identified taxpayers to advise them to settle their taxes to the IRD Commissioner General’s account promptly.

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