INSUBCONTINENT EXCLUSIVE:
It was revealed at the Committee on Public Finance (COPF) that the demand for liquor has decreased by about 30% due to the recent increase
in the price of liquor and the decrease in the income of the people of the country.This was revealed at a recent meeting of the Committee on
Public Finance chaired by Member of Parliament Anura Priyadarshana Yapa.Officials representing several institutions were contacted online to
Stabilization and National Policies, the Inland Revenue Department, the Sri Lanka Excise Department and the Sri Lanka Customs were contacted
online.The officials said that there were several problems in the Sri Lanka Excise Department reaching the target revenue due to the limited
out that the demand for alcohol has decreased by about 30% due to the increase in the price of alcohol and the economic hardships faced by
It was also stated that due to the sudden price hike there is a tendency to increase the production of illicit liquor.The expected revenue
at the occasion and discussed with the officials involved in the process on how to change tax policies and take steps to improve tax
administration.In addition, a detailed discussion was held on the revenue expected to be obtained by the Excise Department of Sri Lanka at
the end of this year.Minister Nalin Fernando, Members of Parliament (Dr.) Harsha de Silva, Anupa Pasqual and (Dr.) Kavinda Heshan
Jayawardhana also participated in this Committee.
This article first appeared/also appeared in https://adaderana.lk
