Entrepreneur reported for corrupt practices
COLOMBO: The plan of a head of a private enterprise to bolt
away from the country after cheating over Rs. 2000 million foreign
exchange and income tax by misleading several institutions like the
Board of Investment and the Employees' Provident Fund, has been reported
to the Treasury.
This head of the private enterprise who has taken on lease six
estates belonging to the Namunukula Plantation Company has cheated the
Government to the tune of well over Rs.2000 million, the treasury
sources revealed.
The Company under this person has entered into an agreement with the
Board of Investment to export the produce from the six estates, Gonakele,
Kanawella, Kandahena,Sinharawa, Hindagala and Kinalan in liquid form and
has, under the Agreement enjoyed tax exemptions which he has used for
his personal luxurious living.
He has also not paid incentives to the employees of the six estates
and has not paid EPF contributions in respect of them.
The products from the produce of the six estates, instead of
exporting, he has sold to the local market while there is no trace of
any machinery needed to convert the produce to liquid form and to bottle
them for export, in terms of his undertaking to the Treasury. |