Tax stamps racket a costly miss for public

Tuesday, 10 October 2023 00:58 - - {{hitsCtrl.values.hits}}

Parliamentary Committee on Public Finance Chairman and SJB MP, Dr. Harsha De Silva on Sunday weighed in on the controversy surrounding fake tax stamps and remarked it was criminal to burden the public with additional taxes when the Government is losing over Rs. 80 billion due to this fraud. Speaking on the issue at a media conference, Dr. De Silva said tax stamps could be affixed digitally or via the sticker, and the Department of Excise had chosen to affix stickers despite increased costs.

He noted that for every 100 stickers an additional 15 to 20 are printed with corresponding stamps, and the Government loses significant revenue annually as a result of this crime in 2019. The SJB MP said every effort will be ensured to apprehend the perpetrators and they will not be allowed to escape justice. De Silva added that they had also discussed measures to improve accountability including two digital stamps which would still be cheaper than the printed form.

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