Sri Lanka, June 26 -- Arjun Joseph Aloysius, a director at W.M. Mendis and Company, must immediately inform the court whether the company intends to settle the Rs. 5.8 billion Value Added Tax (VAT) arrears.

Colombo Additional Magistrate Oshada Migara Maharachchi issued this directive after rejecting a request for relief regarding monthly instalment payments of Rs.5 million, which had been in effect since February 2023.

The order follows submissions from the Inland Revenue Commissioner, who requested that no concessions be granted due to the significant duration of the default and the substantial amount of unpaid tax.

The proceedings concerned a case filed by the Inland Revenue Commissioner to recover Rs. 996 million in tax arrears for ...