Makeover Magic

Customs, Excise and Inland Revenue departments are going on an intensive fitness regime next year to beef up tax collection. Customs, Excise and Inland Revenue departments are going on an intensive fitness regime next year to beef up tax collection. “We will strengthen the revenue collection bodies starting with the Inland Revenue and subsequently Customs and Excise,” said Treasury secretary P B Jayasundara.

New
Taxes in 2005

The VAT increase, on what the government calls
luxury items to 18%, from 15% will go before Parliament for approval
in January and will come into effect from January 1, 2005.

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