Finance State Minister Ranjith Siyambalapitiya has revealed that the government is contemplating the implementation of a program aimed at expanding the tax base, instead of resorting to frequent tax increases. Siyambalapitiya addressed the media, expressing his commitment to gradually reducing tax percentages in the future.
These statements were made by the lawmaker during his inspection of a shipment of illicitly imported cigarettes confiscated by Sri Lanka Customs. The consignment, comprising 556,000 cigarette sticks, had been smuggled in under the guise of machinery importation by a company approved by the Board of Investment (BOI).
The confiscated contraband, valued at approximately Rs. 85 million, is presently held at the Customs’ container terminal in Orugodawatte. This incident underscores the need for effective measures to tackle smuggling activities and reinforce revenue generation through a broader tax base expansion initiative.