President and Finance Minister Ranil Wickremesinghe earlier this week in his 2023 Budget presentation referred to the appointment of a Tax Ombudsman but KPMG revealed that the specified office was previously established way back in 2005 though ceased to function thereafter.

KPMG recalled that the 2005 Budget introduced the concept of “Tax Ombudsman”. The then Finance Minister instituted the office of Tax Ombudsman and appointed a retired High Court Judge for a term of two years. After the expiry of his tenure, a new ombudsman was not appointed.

President Wickremesinghe also proposed a charter, covering rights and obligations of taxpayers.

VAT exemptions to be rationalised; new Act coming