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Sugar scam costs Sri Lanka Rs 15.9 billion in tax revenue: Finance Ministry

PUBLIC FINANCE: The committee on public finance had previously called for an investigative report from the Treasury on the sugar tax.

ECONOMYNEXT – The so called Sugar Scam allegedly carried out by well-connected importers has cost the Sri Lankan state Rs. 15.9 billion in tax revenue, the Ministry of Finance told the Parliamentary Committee on Public Accounts (COPA) in a report today.

Citing the report, the privately owned NewsFirst reported a short while ago that the entirety or at least a portion of the 15.9 billion rupees had benefited a small number of individuals as a result of the scam which occurred in the past few months. (Colombo/Mar9/2021)

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    1. I think it’s useless to expose it. Because if the judiciary system found them guilty & punish these culprits, the Presidential commission will order to release them. That’s what happening now.
      We can’t see this in any other countries in the world!

  1. Every scam is bigger than the previous. THIS so far the largest. They all get away with no punishment but the ones who reveal the scammers are behind bars. Sri Lankan’s deserve this as still there are those who condone any scam or corrupt acts by Rajapaksas saying they saved the country of LTTE war and have the right to rob limitlessly and greedily while the country is doomed economically. PATHETIC to say the least.

    1. Speculations do not amount to a scam, if that is the case every time the govt have reduced any tax any one that had enough stocks in hand would have made a killing and would have been a fraud….

  2. Is there any means of recovering even part of this? or bringing the culprits to justice? If not just reporting these are meaningless

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