Sri Lanka state enterprises to get tax write-off: report

Apr 13, 2009 (LBO) – Sri Lanka’s pampered state-enterprises, often overstaffed, and usually distinguished with poor customer service, are to get tax-write offs, a media report said, as the private sector is squeezed by yet new taxes. State-run Sri Lanka Broadcasting Corporation which has borrowed 150 million rupees from the Treasury will qualify for relief under the Default Taxes (Special Provisions) Bill presented to parliament this week, The Sunday Times newspaper said.

While a state broadcaster is getting Treasury handouts Sri Lanka’s private television broadcasters had been slapped with crippling new taxes in recent years on their content.

“An advisory committee, headed by a retired judge of the Supreme Court, the Court of Appeal or the High Court, will be appointed under the new law,” the newspaper said.

“The committee will be consulted on any tax write-off by the Commissioner General of Inland Revenue.”

The Commissioner General of Inland Revenue will also start a special default tax recovery unit. The unit is expected to come up with a report in six month identifying taxes in default.

Also getting tax-write off would be co-operative societies registered under the Co-operative Societies Law includ