IRD Recovers Rs. 101 Billion In Tax Arrears

COLOMBO (News 1st): The Inland Revenue Department (IRD) states that it has been able to recover 101 billion rupees in tax arrears so far.

The department noted that there is a total of 550 billion rupees in tax arrears yet to be collected.

The Inland Revenue Department stated that measures have been taken to recover these outstanding tax amounts through methods such as freezing bank accounts, issuing final notices, and initiating legal action.

In addition, payment plans for the settlement of tax arrears were also introduced under this initiative.

Meanwhile, today marks the second day of the Tax Power week, which is being implemented with the aim of fostering a culture of voluntary tax payment within the country.

The Inland Revenue Department announced that, under this program, senior officials of tax-paying companies are being educated in Colombo today.