Finance Ministry Denies 4,000 Vehicle LC Claims Before Tax Hike
The Finance Ministry has refuted claims that 4,000 Letters of Credit (LCs) for vehicle imports were opened just before a significant tax increase came into effect. Deputy Minister of Finance and Planning, Dr. Anil Jayantha, addressed these reports in Parliament today.
The reports alleged that these LCs were opened on May 15th, the day preceding the government's implementation of a new 50% surcharge on customs import duties for imported vehicles. Dr. Jayantha’s statement directly challenges this assertion, indicating that the ministry does not recognise these figures.
The new surcharge, introduced to bolster government revenue and potentially address concerns around vehicle imports, has sparked public discussion and scrutiny. The timing of the alleged LC openings raised questions about potential attempts to circumvent the new import duties. However, the Ministry’s denial casts doubt on the veracity of the initial reports.
While Dr. Jayantha did not provide specific figures to counter the claim, his outright rejection of the 4,000 LCs suggests an official investigation or review into the matter may be underway. Further details regarding the ministry's response and any subsequent actions are expected to be released in due course. The government has been actively seeking ways to increase revenue through various means, and the surcharge on vehicle imports is one such measure intended to achieve this goal.
