Monday Jun 17, 2024
Monday Jun 17, 2024
Tuesday, 24 October 2023 01:15 - - {{hitsCtrl.values.hits}}
State Minister of Finance, Ranjith Siyambalapitiya, announced yesterday that the Government will initiate a probe into the purported misappropriation of Electric Vehicle (EV) permits meant for Sri Lankan migrant workers, which have been allegedly used for unauthorised electric vehicle imports into Sri Lanka.
The investigation was initiated following the revelation made during a recent session of the Parliamentary Committee on Ways and Means that at least 119 electric vehicles, with a total value of nearly Rs. 1.2 billion, had been imported since September 2022 by exploiting permits originally intended for migrant workers. It was also uncovered that at least 75 have been imported by the same company.
The committee found that the illicit traders had organised the sale of licences prior to importing the vehicles and a customs duty of Rs. 5 million was levied to sell a licence valued at $ 250 000. The illicit traders are accused of generating significant income through this practice, which has resulted in a loss of tax revenue for the Government.
Siyambalapitiya disclosed that Sri Lanka Customs has already seized seven vehicles suspected of being brought into the country through recently issued electronic vehicle import licences, which were originally intended to incentivise Sri Lankan workers abroad.
The Minister confirmed that investigations have now commenced to track down vehicles believed to have been sold through the racket. Siyambalapitiya said that the racket resulted in an estimated loss of Government revenue amounting to approximately Rs. 35 billion.
Siyambalapitiya emphasised that the ongoing investigations are addressing several critical aspects, including whether the vehicles have been undervalued or illegally transferred if the funds used for importation originated from migrant workers, and whether the applicable taxes have been remitted to the Department of Inland Revenue.
