Patali Champika Ranawaka, the Chairman of the Committee on Ways and Means representing the opposition, disclosed that the government has accrued Rs.198 million in arrears of excise duty this month. This financial boost is attributed to the recent revocation of licenses belonging to alcohol production companies that failed to settle outstanding excise duty payments.

Ranawaka highlighted the effectiveness of recommending license cancellations for companies with overdue excise duty payments, noting that several entities have opted to reach agreements for settling their arrears. These companies have initiated payments for the outstanding excise duty amounts due for the year 2023.

During a committee meeting, it was disclosed that four institutions have committed to paying a substantial sum of Rs.1.1 billion, covering both outstanding taxes and fees related to the year 2023. The agreed-upon payment plan allows for settling the amount in nine installments by December 31, 2023.

As of November 6, 2023, these four companies have already made a payment of Rs.198 million. The remaining outstanding tax of Rs.1.056 billion is scheduled for settlement by the end of the year, as confirmed by excise officials in their report to the committee.