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Arjun Aloysius Sentenced to 6 Months in Prison Over VAT Evasion
Arjun Aloysius Sentenced to 6 Months in Prison Over VAT Evasion
Anuradha Indrajith
14-Oct-2024 07:02:41
The Colombo Magistrate's Court has sentenced Arjun Aloysius, Director of W.M. Mendis & Co. Limited, and two others to six months in prison for evading Value Added Tax (VAT) payments totaling Rs. 3.5 billion.
The case was brought against the company by the Inland Revenue Department (IRD) for failing to pay Rs. 3.5 billion in taxes owed to the government between 2016 and 2019.
The case was heard before Colombo Additional Magistrate Bandara Ilangasinghe this morning (October 14).
On November 14, 2023, the court instructed the accused to settle the outstanding payments. The prison sentence was handed down due to their failure to comply with the court's order to make the payments.
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