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| Saturday, 04 September 2004 |
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| Cost country Rs. 200 billion: UNF's Tax Amnesty Bill to be thrown out by Shirajiv Sirimane The Government is to have legislation passed in Parliament soon to abolish the controversial tax amnesty introduced by the previous government. This would be fulfilling of yet another election promise made by the United People's Freedom Alliance Government. Government sources told the Daily News that a Bill would be tabled in Parliament soon to abolish this. The former government under the Inland Revenue (Special Provisions) Act No. 10 of 2003 has submitted a declaration to the Inland Revenue Department in this regard. When this controversial legislature was first taken up at the Cabinet by the UNF Government, the President who was updated on the adverse effects of the Bill vehemently opposed it but with no avail. It was estimated that the loss caused to the State, pivotal to the country's revenue, public finance and fiscal control, has been estimated at Rs. 200 billion. At the time the said law was placed before Parliament disclosure had not been made of an estimate on the loss of the public funds. The puerile statesment made that irrecoverable public funds has been written off had not been so certified by the revenue collecting authorities and the Auditor General. A probe would reveal that even recovered State revenue had been refunded. In the guise of this income tax amnesty foreign exchange fraud and violations which could involve the funding of terrorism activities and the movement of terrorist funds which are globally banned were also not under any check. This Bill also gives a licence to perpetrate Exchange control violations and frauds which could involve transactions pertaining to narcotics pedalling, human trafficking and terrorism. The Bill stipulates that persons making a declaration shall enjoy immunity from any investigation or prosecution for any offence under any law which included the Exchange Control Act. Bill mandates secrecy to be maintained and that no commission of inquiry or any Courts Law could call upon disclosure of identity of persons and or monies declare as aforesaid. "This is a blatantly violative resolution of the security council of the United Nations, pertaining to funds financing terrorism and funds for such organisations. The provisions would be a threat to our security," said Nihal Sri Amarasekera and human rights activist. He said that each Parliamentarian takes an oath to safeguard the country and the Constitution. "By voting for the Bill the parliamentarians have also violated the Constitution," he said. A political analyst said that the re-tabling of the Bill in Parliament would give an opportunity for the MPs who voted for it to correct their mistakes. |
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