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Economy

Excise duty and fines exceed Rs. 10 billion – Deputy Minister

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Deputy Minister of Economic Development Nishantha Jayaweera told Parliament that the total excise duty and fines owed to the Excise Department have surpassed Rs. 10 billion.

He said the government has amended legal provisions to cancel the licenses of manufacturers who fail to pay their taxes for more than 90 days.

According to the Deputy Minister, excise duty arrears amount to Rs. 4.7 billion, fines for arrears total Rs. 5.8 billion, and Rs. 223 million remains to be collected as excise duty arrears on raw materials.

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