(LANKAPUVATH | COLOMBO) – Minister of State for Finance Dr. Ranjith Siyambalapitiya says that immediate steps will be taken to amend the Excise Act.
Pointing out that currently there are many shortcomings in the Excise Act, State Minister of Finance said the deficiencies will be rectified and the amendments will be submitted promptly.
Speaking to media, the State Minister said the Excise Ordinance Act is one of the oldest ordinances in the country, being more than 100 years old and has been updated from time to time with more than 1,000 amendments based on the needs of that era.
“So it (the Act) is like a patient who has a lot of plasters applied. The coverage provided by the Act is not enough today. Endless holes have been created. Here we hope to close all these loopholes and make the necessary updates to get the real government revenue. Therefore, we are taking necessary steps to amend the Excise Act.to fit for today’s needs.”
“In addition, the 902nd notification brought in 2008 is what directly affects the location of liquor stores and other matters. We are working to update this notification as soon as possible,” the State Minister of Finance said.
