Measures to rein in errant liquor companies proposed

Counterfeit security stickers:

The Committee on Ways and Means will submit a report to Parliament today (06) on measures to be adopted to prevent the liquor manufacturers from using counterfeit security stickers.

A statement issued by Parliament quoted Chairman of the financial oversight committee Patali Champika Ranawaka as having said inquiries had revealed the loss of a significant tax revenue to the government due to the counterfeit security tax seals racket.

The report would deal with specific measures to address the issues at hand, the former minister said.

As a recently established Committee of the Parliament for the purpose of financial oversight, the Committee on Ways and Means, according to the Standing Orders of the Parliament, has the powers to look into and make recommendations regarding the revenue collection mechanisms of the Sri Lanka Customs, Inland Revenue Department and Sri Lanka Excise Department institutions, along with taxation, customs duties and all matters necessary to raise additional revenue for the government.