(LANKAPUVATH | COLOMBO) – The Inland Revenue Department (IRD) of Sri Lanka says that cash rewards will be given to people who provide information regarding tax evaders.
It is also reported that under Section 211 of the Inland Revenue Act up to 15% of the collected income will be offered as financial rewards when taxes are collected on the basis of information provided regarding tax evaders.
The IRD also requests the general public to inform the department if they know of people who are deliberately evading taxes assuring to protect the identity of those informants.
Accordingly, information can also be provided on value added tax (VAT) evasion, false exemptions, false deductions, false documents, unreported income, bribery, unethical business practices, failure to pay tax, failure to file returns and legal violations in terms of rental income.
Meanwhile, the Inland Revenue Commissioner General D.R.S. Hapuarachchi said the IRD has collected Rs. 25,576 million from the tax levied on public and private personal income for the first quarter of this year.
He said the revenue received by the Department from this tax was Rs.3,106 million in January this year. This tax income has increased to Rs.10,540 million in February and the Department has collected Rs.11,930 million as personal tax revenue in March.