Performance Report 2007 - Department of Inland Revenue

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Chart 07 Debit Tax Collection -2007 9,000 8,000 7,000 Rs. Million 6,000 5,000 4,000 3,000 2,000 1,000 - Estimated Revenue 1Debit Tax Revenue Collection 2.9 Share Transaction Levy Share Transaction Levy contributed Rs. 412 Mn marginally declining from Rs. 420.2 Mn collected in the previous year. The Table 14 shows the estimate for the year and the amount collected. Table 14 Share Transaction Levy - 2007 Estimated Revenue (Rs:) Revenue Collection (Rs:) % 400,000,000 412,083,582 103.02 2.10 Construction Industry Fund Levy Revenue collection from Construction Industry Fund Levy, exceeded the Revenue estimate by Rs. 26 Mn or 88% by contributing Rs. 56 Mn to the total Revenue. Finance Act No. 5 was amended to empower the Commissioner General of Inland Revenue to administer the Construction Industry Fund Levy. 2.11 Inland Revenue Collection 2003 to 2007 Figures in Table 15 represent the tax wise classification of revenue collection of the Department, from 2003 to 2007. 18
Type of Tax Table 15 Inland Revenue Collection 2003 to 2007 – Tax wise Analysis 2003 2004 2005 2006 2007 Colln. % Colln. % Colln. % Colln. % Colln. (Rs.Mn) (Rs. Mn) (Rs. Mn) (Rs.Mn) (Rs.Mn) % Income Tax Economic Service Charge Value Added Tax Debits Tax Betting & Gaming Levy Share Transaction Levy Turnover tax Stamp Duty Estate Duty Goods & Services Tax National Security Levy Construction Industry Social Responsibility Levy 38,602 - 97,754 3,601 56 - 4 69 - (759) (284) 27.76 70.30 2.59 0.04 0.00 0.05 -0.55 -0.20 37,904.0 4,052.8 117,030.9 4,488.8 77.1 - 106.2 51.3 0.4 852.6 239.9 23.00 2.46 71.01 2.72 0.05 0.06 0.03 0.00 0.52 0.15 42,154.8 7,283.1 141,877.9 5,700.8 196.4 451.2 143.1 8.9 0.5 448.9 34.6 21.26 3.67 71.55 2.87 0.10 0.23 0.07 0.00 0.00 0.23 0.02 71,481.5 8,852.9 164,070.8 6,254.8 282.2 420.2 232.6 1,495.2 0.6 135.7 92.6 28.22 3.49 64.77 2.47 0.11 0.17 0.09 0.59 0.00 0.05 0.04 94,965 12,203 186,991 7,187 268 412 461 4,026 0 142 105 56 1,389 30.8 1 3.96 60.6 7 2.33 0.09 0.13 0.15 1.31 0.00 0.05 0.03 0.02 0.45 139,043 100 164,804 100 198,300 100 253,319 100 308,205 100 2.12 Inland Revenue Contribution to the Government Revenue and Gross Domestic Product (GDP) Table 16 shows the contribution of the Inland Revenue Department to the Government revenue and the GDP, in 2007 and its trends in the last 4 years. Chart 08 illustrates these contributions. Total Government revenue in 2007 has increased to Rs. 565,051 Mn (as per the Annual Report of Central Bank of Sri Lanka -2007) while the ratio of the total Inland Revenue collection to the Government revenue, continued its increasing trend and reached 54.54% in the year. The ratio of Departments collection to GDP is in the increasing direction. 19
Page 1 and 2: Performance Report 2007 DEPARTMENT
Page 3 and 4: Department’s Mission • To colle
Page 5 and 6: Mr. V.D.G.P. Ubesiri Senior Commiss
Page 7 and 8: YEAR 2007-Noteworthy Achievements a
Page 9 and 10: downwards to be trained in India, d
Page 11 and 12: CHAPTER 1 HUMAN RESOURCES 1.1 Appro
Page 13 and 14: - SA Programme 23 Mr. R M D Banda P
Page 15 and 16: 5) Seminars conducted: Date Subject
Page 17 and 18: CHAPTER 2 REVENUE COLLECTION The De
Page 19 and 20: Table -02 Total Revenue Collection-
Page 21 and 22: 2.3. Income Tax Collection Income t
Page 23 and 24: 2.3.4 PAYE Returns Filing Complianc
Page 25 and 26: ‣ Supply of prawns, importation o
Page 27: 2.7 Betting & Gaming Levy Collectio
Page 31 and 32: CHAPTER 3 EXPENDITURE AND PRODUCTIV
Page 33 and 34: 3.2 Analysis of the Recurrent Expen
Page 35 and 36: CHAPTER 4 TAXES IN DEFAULT Table 19
Page 37 and 38: Affairs related to tax treaties dur
Page 39 and 40: 6.3 Approved Charities The followin
Page 41 and 42: 7.3 Appeals Appeals to the Commissi
Page 43 and 44: Introduction of certain tax benefit
Page 45: DISTRIBUTION OF STAFF, FILES AND RE

Performance Report 2007 - Department of Inland Revenue

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