Excise Dep struggling to achieve expected revenue due to increased liquor prices

As a result of increasing price of liquor, the Department of Excise is struggling to achieve expected revenue set up for this week.

The expected revenue from the Excise Department this year is Rs. 217 billion, however, as of June, only Rs. 72.985 billion have been earned.

This was revealed at Sectoral Oversight Committee (SOC) on National Economic and Physical Plans.

However, committee Chairman Mahindananda Aluthgamage pointing out that the revenue of the Department Excise has not increased for a considerable number of years, pointed out that the increase in the price of alcohol is not the sole reason for the decline in the entity’s income, and thus instructed the authorities to collect taxes directly from the large-scale alcohol production companies in this country. He also directed them to revoke the licenses of the manufacturing companies that fail to pay taxes in any way.