Home / Letters to the Editor/ What has Tax Department done about Swiss accounts?

What has Tax Department done about Swiss accounts?


Comments / {{hitsCtrl.values.hits}} Views / Tuesday, 30 October 2018 00:55

Facebook

More than two years have now gone since our major newspapers exposed Sri Lankan citizens secretly having Swiss and Cayman Island bank accounts. Some of them had both husband and wife as separate account holders to dodge taxes even in those countries.

Most of these Sri Lankans have lived in Sri Lanka all their lives and do business only here. But how did they end up having such large accounts overseas? Are these monies proceeds of crime, illegal commissions or money smuggled out against our Exchange Control Regulations? It is also noteworthy that a majority of these account holder are recent citizens of this country and may even be dual citizens.

Now in most countries, where ever you earn money you must declare that in your tax returns in the home country.

Our Inland Revenue Department is either sleeping or are not capable of investigating complex across border crimes like this.

In either case, the Tax Department is letting down the country and the law-abiding taxpayers.

R.C. Ruberu


Share This Article

Facebook Twitter


DISCLAIMER:

1. All comments will be moderated by the Daily FT Web Editor.

2. Comments that are abusive, obscene, incendiary, defamatory or irrelevant will not be published.

3. We may remove hyperlinks within comments.

4. Kindly use a genuine email ID and provide your name.

5. Spamming the comments section under different user names may result in being blacklisted.

COMMENTS

Today's Columnists

Those who go by social proof are easy prey to crafty schemers

Monday, 17 June 2019

Going after social proof Swiss writer and novelist, Rolf Dobelli, in one of the essays in his 2013 book ‘The Art of Thinking Clearly’, has given a fine warning to his readers. He has warned against going by ‘social proof’ or ‘majority view


Poson ponderings on positional power: ‘Authority vested’ vs. ‘authority wasted’

Monday, 17 June 2019

We witnessed a serene Poson Poya, in a far more improved security setting in Sri Lanka. Whilst the Sri Lankan life slowly returning to normal, political fronts do not appear to show the same. Has the political power become the people ‘pava’ (sin)


Emperors without clothes: Is Mother Lanka naked too?

Monday, 17 June 2019

The expression ‘The Emperor without clothes’ derives from the Hans Anderson tale that is based on Sufi wisdom. The Emperor in Anderson’s story was without doubt, the finest dressed man in the land and he loved wearing fine clothes and spent al


The confusion of the collision is becoming indescribable!

Monday, 17 June 2019

Strange are the things we are witnessing in the political scene. The fast-evaporating trust and confidence in politicians and the Government are seriously destroying the harmony of the nation. The Prime Minister of the country has admitted that the


Columnists More