CID has started an investigation into the case of the Sri Lankan government losing nearly 1600 crores of tax revenue by reducing the tax imposed on sugar import from Rs. 50 to 25 cents. The facts were reported before Mr. Ilangasinghe additional magistrate Colombo Fort yesterday (08).
The Criminal Investigation Department has submitted to the court that the tax revenue due to the Government of Sri Lanka has been lost due to the devaluation of the special commodity tax of 50 rupees per kilogram of sugar to 25 cents from the midnight of October 13, 2020.
