State Minister of Finance Ranjith Siyambalapitiya says the report compiled by the Inland Revenue Department pertaining to the reduction of the tax imposed on sugar in 2020 will be handed over to him next week.
The State Minister said the report will be submitted in Parliament subsequently.
The Inland Revenue Department compiled the report based on the report compiled by the Auditor General over the controversial sugar tax reduction.
State Minister Siyambalapitiya said in 2020, the government at the time, reduced the special trade levy charged on sugar from Rs.50 to Rs.0.25, while the government tax on a kilogram of sugar was reduced by Rs.49 Rs.0.75.
He noted that the public did not receive its benefits as expected by the government, leading to a major controversy.
The State Minister said the Auditor Generals report states that the government sacrificed Rs.16.7 billion owing to the move while it stated that the manner in which the sum was divided among sugar importers was also cited in the report.
He stated that the Auditor General recommended that the government recover the funds that were lost owing to the tax reduction.
State Minister Siyambalapitiya said the Inland Revenue Department must look into the recovery of the funds adding that once the report is received this week legal determinations will be made.