SLC තවත් කපටි කමක් හෙළිවෙයි...
SLC bends tax rules : leaked document
A document which has leaked from Sri Lanka Cricket (SLC) recently, shows how the country’s cricket officials have helped some of the SLC employees including prominent coaches to avoid income tax, and bend the tax rules to the boundaries of legality.
The document shows that the monthly rentals of the vehicles used by these SLC officials have been paid to their respective spouses, which allowed the employees to camouflage their actual total income and keep it from going above bigger tax levels, and helped to still keep the money within the family.
A top SLC official confirmed that this had been the practice for some time, but they have discontinued it since this month following the government raising the income tax ceilings from April 1 this year through the last budget.
“From this month, we will add the vehicles allowances of these officials to their salaries as the taxable income has gone up through budget proposals and they no longer would be taxed for collecting their vehicle allowances” explained the official.He said that the SLC opted to paying vehicle rentals to spouses after coach Romesh Kaluwitharana brought up the issue last year.
“Kaluwitharana complained to the SLC that he did not receive a vehicle allowance of Rs. 50,000 as promised when he was employed and demanded the full amount. Actually he was getting only Rs. 36,000 as vehicle allowance after the taxes were deducted from his salary” explained the official.
“So we told him and all others employees whose allowances were affected by tax that we could pay them the full amount as vehicle rent and pointed out that they could rent it in the name of a family member” he added.
A financial expert consulted by “Daily Mirror” yesterday said that the concept is nothing unusual and said that many Sri Lankan companies and even top corporate firms adopt this method to circumnavigate the income taxes.
“It is not illegal. They are just exploiting a loophole in the tax laws. Anyway as taxation limits of income have gone up with the last budget, it won’t be required by most of the people anymore” he described.
He said that the limit of income any person could receive per month without paying taxes was Rs. 50,000, and interestingly the vehicle rentals paid to SLC employee spouses remained just below that, mostly Rs. 49,000 or Rs. 49,500.
Click on image to Zoom
ක්රික්ටර්ෆ්
දැනුවත් කිරීම සදහාම පමණක් බව සලකන්න.
balala yana aya bump ekak wath dala yandakooooooooooooooooooooooo
SLC bends tax rules : leaked document
A document which has leaked from Sri Lanka Cricket (SLC) recently, shows how the country’s cricket officials have helped some of the SLC employees including prominent coaches to avoid income tax, and bend the tax rules to the boundaries of legality.
The document shows that the monthly rentals of the vehicles used by these SLC officials have been paid to their respective spouses, which allowed the employees to camouflage their actual total income and keep it from going above bigger tax levels, and helped to still keep the money within the family.
A top SLC official confirmed that this had been the practice for some time, but they have discontinued it since this month following the government raising the income tax ceilings from April 1 this year through the last budget.
“From this month, we will add the vehicles allowances of these officials to their salaries as the taxable income has gone up through budget proposals and they no longer would be taxed for collecting their vehicle allowances” explained the official.He said that the SLC opted to paying vehicle rentals to spouses after coach Romesh Kaluwitharana brought up the issue last year.
“Kaluwitharana complained to the SLC that he did not receive a vehicle allowance of Rs. 50,000 as promised when he was employed and demanded the full amount. Actually he was getting only Rs. 36,000 as vehicle allowance after the taxes were deducted from his salary” explained the official.
“So we told him and all others employees whose allowances were affected by tax that we could pay them the full amount as vehicle rent and pointed out that they could rent it in the name of a family member” he added.
A financial expert consulted by “Daily Mirror” yesterday said that the concept is nothing unusual and said that many Sri Lankan companies and even top corporate firms adopt this method to circumnavigate the income taxes.
“It is not illegal. They are just exploiting a loophole in the tax laws. Anyway as taxation limits of income have gone up with the last budget, it won’t be required by most of the people anymore” he described.
He said that the limit of income any person could receive per month without paying taxes was Rs. 50,000, and interestingly the vehicle rentals paid to SLC employee spouses remained just below that, mostly Rs. 49,000 or Rs. 49,500.
Click on image to Zoom
ක්රික්ටර්ෆ්
දැනුවත් කිරීම සදහාම පමණක් බව සලකන්න.
balala yana aya bump ekak wath dala yandakooooooooooooooooooooooo
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