An audit has been initiated by the Inland Revenue Department to investigate potential sugar-related irregularities following the recent tax increase, State Minister of Finance Ranjith Siyambalapitiya said.
Siyambalapitiya informed Parliament that there were no significant surges in sugar imports during the period when the Special Commodity Levy on sugar increased from 25 cents to Rs. 50 per kilo.
Responding to a question posed by Opposition Leader Sajith Premadasa under Standing Order 27 (2), the Minister pointed out that according to Customs statistics, there was a decline in sugar imports during the months following the initial five months of the year.
He further revealed that a total of 546,488 tons of sugar had been imported to Sri Lanka in 2023 up to that point, with 35,000 tons arriving before the tax adjustment.
To maintain price stability for existing stock, a maximum retail price per kilo of sugar had been implemented successfully, according to the Minister.
Upon the completion of the audit, a comprehensive report will be presented to Parliament, he assured.
