The Excise Department has earned a tax revenue of Rs. 88.7 billion in the period from January 1, 2023 to May 31, 2023.

It is significant that the Excise Department has earned more revenue than the same period in the last year, which stood at Rs. 69.9 billion.

According to reports it is an increase of 19 billion rupees compared to the same period of the previous year.

When it is taken as a percentage, the increase is 28 percent, Excise Commissioner General M. J. Gunasiri said.

“The Excise Department has earned Rs.169 billion in 2022. It was increased to Rs.179 billion in 2023. However, compared to 2022, Rs.9 billion more has been earned in 2023,” he added.

By the end of the first five months of this year, it is targeted to collect Rs.91.2 billion in tax revenue. Accordingly, 98 percent of that target has been achieved so far.

The Commissioner General said that due to the emergency situation that occurred in the first week, the Excise Department has lost around two billion rupees since production activities of several liquor manufacturing companies were temporarily suspended.

In 2023, the government took steps to raise the percentage of excise duty by fourteen percent.

In the previous year, the tax volume imposed on liquor has been increased by forty percent on two occasions by the government.

However, from this point of view, the Commissioner General stated that the increase in tax revenue in 2023 is not due to the increase in tax percentages.

Gunasiri said that this increase of tax income is a good thing even in a declining trend of alcohol production.

(Daily News)

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