Sri Lanka, April 2 -- Chairman of the Committee on Ways and Means and MP Patali Champika Ranawaka said in Parliament yesterday that Sri Lanka Customs, Inland Revenue Department and Excise Department are collectively owed a sum of Rs. 1,066 billion in taxes and duties to the government.

The MP mentioned this while presenting the second report of the Committee on Ways and Means to Parliament.

He also said that the increase in VAT on January 1, 2024, was done with the aim of collecting Rs. 600 billion for the government, and the amount of tax revenue not collected by these institutions in the last five years is around Rs. 656 billion.

He said that the number of tax defaulters above Rs.1,000 million is 92, while there are 104 defaulters be...