October 17, 2019
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    ‘IR Dept will probe MPs’ wealth, income’

    August 24, 2018

    Finance and Mass Media State Minister Eran Wickramaratne said he informed the Inland Revenue Department to collect the information of wealth and income sources of Parliamentarians. The State Minister was replying to a question by UPFA MP Bandula Gunawardena in Parliament yesterday.

    He said the IR Department has sent forms to collect information on income of persons who owns vehicles. He said an ordinary person asked him whether the same procedure applies to the MPs and ministers.

    “This person said there are MPs who acquired new houses, lands and vehicles within a short period after their election to Parliament. He asked me whether the IR Department has sent forms to collect information of those properties as well. I informed the IR Department to find out those information of the MPs. We believe that the law should be equal to everybody,” he said.

    State Minister Wickramaratne said the government earned Rs. 50 billion by the Super Gain Tax that the Budget 2016 introduced. He said 538 high income earning companies had paid the Super Gain Tax.

     He said successive governments in the past 30 years had granted unlimited tax concessions and exemptions to the companies through the BOI. These concessions were restricted to a certain level by the new Inland Revenue Act and concessions are now given to the amount of investment made, he said.

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