The Colombo Magistrate’s Court has rejected an appeal for bail made by the Director of W.M. Mendis Distilleries Arjun Aloysius and two others, who were sentenced to prison on Monday (14) over VAT evasion.
Appearing for the defendants, President’s Counsel Razik Zarook requested the court to release the three defendants on bail since the trial against them has now become a criminal case.
Colombo Additional Magistrate Bandara Ilangasinghe, who stated that the relevant case has been filed based on a certification given by the Inland Revenue Department, rejected the appeal for bail, mentioning that the prison sentence is only an alternative punishment imposed on the accused and that therefore the case has not become a criminal trial.
The Colombo Magistrate’s Court sentenced the Director of W.M. Mendis Distilleries, Arjun Aloysius and two others to 06 months in prison for defaulting the payment of Rs. 3.5 billion in Value Added Tax (VAT) by the company.
The relevant case was filed against the company by the Inland Revenue Department (IRD) for defaulting the payment of Rs. 3.5 billion in taxes owed to the government during the period from 2016 to 2019.
A surprise inspection conducted by the officers of the Jinthupitiya Medical Officer of Health (MOH)…
The Central Bank of Sri Lanka (CBSL) has issued a circular to licensed banks recently,…
Sri Lankan President Anura Kumara Dissanayake will travel to the island’s largest bilateral lender China…
The government is hoping to initiate discussions with India to update the Free Trade Agreement…
The Colombo Lotus Tower Management Company (Private) Limited has announced extended operating hours for the…
Sri Lanka Customs confirmed that a total of 67,000 metric tons of rice were imported…