More taxes on CSN of Rajapaksa sons

Published : 11:25 am  February 6, 2015 | No comments so far |  | 


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Carlton Sports Network (CSN), a dedicated sports channel operated by former President Mahinda Rajapaksa’s sons, is among the companies to be levied a Super Gains Tax introduced by the Government, Parliament was informed yesterday.


Finance Minister Ravi Karunanayake, who opened the debate on the interim budget, said this tax was introduced to charge a levy from some companies that prospered disproportionately during the tenure of the previous government while making a minimum contribution to the economy.

He cited CSN as an example and said it had neither paid the spectrum tax nor the electricity charges. “CSN has usurped the sports telecasting rights of the state-run television channels and misappropriated the fleet of vehicles assigned to the Presidential Security Division (PSD) for its business operations. That is how it has made huge profits,” the minister said adding that one-fourth of the
income accrued by these companies will be charged as tax if they had made a profit of Rs.2,000 million or more during the financial year 2013/2014.
The minister said the Mansion Tax had been introduced to target individuals who built super luxury houses using their ill-gotten lucre with the patronage of the previous government.
“There are only around 1,500 such households. We have not targeted those who have inherited ancestral homes,” he said.