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Makeover Magic

Officials from K. Seeds Investments Pvt Ltd (at left) with officials from Commercial Credit and Finance PLC (at right)

Customs, Excise and Inland Revenue departments are going on an intensive fitness regime next year to beef up tax collection.
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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.
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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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