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Controversial tax amnesty: Income from amnesty confidential: CBSL Governor

20 Nov 2021

The amount of funds registered and revenue earned from the controversial tax amnesty enacted since September this year is “confidential information”, Central Bank of Sri Lanka (CBSL) Governor Ajith Nivard Cabraal told The Sunday Morning. The tax amnesty came following Parliament approving a bill to provide an amnesty to people who had not paid taxes, but wished to declare such assets and face a 1% fee. A similar bill was also considered in the early 2000s by the then Government. Opposition parliamentarians have labelled the bill an unfair piece of legislation that rewards the rich, the dishonest, and wheeler dealers. The constitutionality of the bill was challenged through several petitions before the Supreme Court. Opposition legislators argue that the tax amnesty encourages further tax evasion and will not secure a net benefit to the State.  


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