Lankapage Logo Recent Top Stories
CP 14 YEARS
Go Home Home Serving the Sri Lankan community globally since 2000
go to LankaPage.com

Leading News from Sri Lanka::

* Sri Lankan court sentences former tax officer to102 year suspended jail term for VAT fraud
Thu, May 8, 2014, 07:30 pm SL Time, ColomboPage News Desk, Sri Lanka.

May 08, Colombo: A Sri Lankan court today hands over a 102 year suspended jail term and imposed a fine of Rs. 11.98 billion to a former Deputy Commissioner of the Inland Revenue Department over a VAT fraud.

The Colombo High Court today sentenced the former Deputy Commissioner of the Inland Revenue Department Gunasiri de Soyza Jayatillake to a 102 year suspended jail term to be served for three years court after he was found guilty in the case.

The multi-billion rupee Value Added Tax (VAT) fraud has taken place in the country from November 2002 to April 2004.

During the period, the suspect was involved in a fraud where the VAT branch of the Inland Revenue Department has allegedly made unlawful refunds to non-existent companies and defrauding funds amounted to Rs. 3.99 billion. He had pleaded guilty to the charges against him.

ColomboPage - Recent 10 Stories
Sri Lanka Insurance Corporation posts profits before tax of Rs. 630 million in 1Q 2015
-- [42 minutes ago]
Construction work on Matara-Hambantota segment of Sri Lanka's Southern Expressway commenced
-- [2 hours ago]
Former leader of Sri Lanka Marxist party to form a new alternative front
-- [2 hours ago]
Former President may contest elections from Kurunegala
-- [3 hours ago]
UNP warmly welcomes first crossover of SLFP stalwart Nawinna
-- [4 hours ago]
Sri Lankan President pledges not to reverse 'January 08 Revolution' and family rule to return
-- [5 hours ago]
Sri Lanka Police to ensure election rules are strictly enforced during polls
Work on Matara-Hambantota segment of Sri Lanka's Southern Expressway to begin today
Sri Lanka inks first trade pact with China's Guangzhou
Constitutional council meets for the first time

Copyright © 2000, 2014 by LankaPage.com (LLC) :
The news and other contents on ColomboPage are copyrighted property of LankaPage.com, LLC. Any unauthorized use of any information on ColomboPage may constitute a violation of copyright laws. You need written permission to reproduce, republish, post, transmit, broadcast or distribute, material from this site from LankaPage.com, LLC. However, news organizations or broadcasters in Sri Lanka may republish the news items in ColomboPage with proper acknowledgment to ColomboPage.