Arrears in duties: nine liquor manufacturers to lose licenses?

COLOMBO (News 1st) - The Excise Department has reached new agreements with nine liquor manufacturers to settle their arrears in duties.

The liquor manufacturers were asked to pay their duties in full within a period of three months effective from Monday (17), the Excise Commissioner said.

The decision to grant a new payment schedule was made considering the progress of payments these companies have made.

If the arrears are not settled at the end of these three months, the Excise Commissioner warned the liquor manufacturers will lose their licenses.

The nine liquor manufacturers owe the government nearly Rs. 7 billion in total. While only Rs. 2 billion are taxes, the rest amount to late payment fees.