By Adolf
The allegations of large-scale tax evasion linked to the import of 1,000 BYD electric vehicles have sent ripples through Sri Lanka’s corporate establishment. Yet, while the charges are serious and warrant full investigation, it is important to maintain perspective before rushing to judgment. John Keells Holdings (JKH) has long stood as a symbol of responsible corporate citizenship, and it deserves the opportunity to respond before being tried in the court of public opinion. According to reports, Sri Lanka Customs has detained the consignment, alleging that the vehicles were under-declared as having 100 kW motors instead of 150 kW—potentially depriving the government of Rs. 3 billion in excise revenue. If proven, the case could represent a significant breach of trust and governance. However, at this stage, it remains an allegation. The public, investors, and policymakers must therefore allow due process to unfold, guided by facts rather than speculation.
Reputation
JKH’s reputation has been built over decades of transparency, compliance, and ethical conduct. The company has operated under intense regulatory and market scrutiny, consistently earning recognition for its governance practices. It is one of the few conglomerates in Sri Lanka that voluntarily adopts international reporting standards and maintains a strong presence of independent directors on its board. These factors suggest that any legitimate concerns will be addressed openly and decisively. That said, there are key questions that merit clear answers. Did JKH disclose full technical details of the vehicles to Sri Lanka Customs prior to importation? Were proper clearances and classifications obtained before shipment? These are critical compliance checkpoints. If the company had sought and received prior approval from the authorities, then the issue may be one of interpretation rather than deception. Conversely, failure to disclose material specifications would be a serious lapse demanding accountability. Transparency on these points is essential to restoring confidence in both the company and the system. It is also important to acknowledge that Sri Lanka’s import and taxation frameworks, particularly for electric vehicles, remain complex and frequently revised. Such uncertainty can lead to inconsistencies or genuine errors in classification. This underlines the broader need for predictable and transparent regulatory frameworks to support sustainable investment and innovation in the green mobility sector. As the investigation proceeds, it is vital that the matter is handled with fairness and professionalism. A rush to condemn one of the country’s leading corporates could have unintended consequences for investor sentiment and the wider perception of Sri Lanka as a stable, rules-based economy.
Conclusion
John Keells Holdings has, for generations, been a cornerstone of Sri Lanka’s private sector—driving growth, employment, and good governance. Its long record of integrity and compliance cannot be dismissed overnight. Until the facts are fully established, JKH should not lose the confidence of the public. The outcome of this case must reinforce—not weaken—the principles of transparency, accountability, and due process that underpin a healthy corporate environment. If JKH and CG Auto is found guilty the Boards should be given the highest punishment including criminal charges as a lesson to other companies. It is not only politicians who should be jailed . Even white collar criminals
