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Published on Monday, 06 October 2014 15:13
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Skyline 410px 14 08 28We have been giving the Skyline Aviation fraud such prominence as it is one of the largest tax frauds reported from the country.

According to what Skyline chief - Kurukulasooriya Anthony Romesh Fernando said to the Island Newspaper in 2006, the project is an investment of over Rs. 61.08 million.

It has become a question as to the figure of the tax if it was imposed and how such an amount of funds were acquired.

It is also being doubted whether income tax has been paid with regard to this.

Doubts are also being raised whether this fraud is being backed by bigwigs of the BOI and the Civil Aviation Authority of Sri Lanka since the company's inception.

Initiated under the Nipayum Sri Lanka 300 Enterprises Programme in 2006, Skyline Aviation was to be located in Weerawila.

An SLAF building for 30,000/=

With the assistance of former Air Force commander - Roshan Gunatilake, measures have been taken to occupy a bakery building at SLAF Weerawila on an temporary basis for a rent of Rs. 30,000 per month. (The letter pertaining to this is shown below.)

However, Skyline Aviation does not have an office in Weerawila at the moment and the office in Weerawila was only opened to obtain the BOI tax concessions.

Caught red handed

The best evidence proving that Skyline Aviation is enjoying tax concessions of the BOI is their financial statement in 2007/2008.

The financial statement has been compiled by S.K. Associates (Chartered Accountants).

According to these documents, the company has been exempted from tax for a period of 08 years commencing from Nov. 17, 2006.

(Excerpts of the financial statements are shown below)

Y.G. Rajapaksa linked?

It is reported that though Deputy Director General (Investment) of the BOI - Ms. Y.G. Rajapaksa is aware of this tax fraud, she is concealing this.

Though a certain individual had once formally informed Ms. Rajapaksa of these goings on, she had replied saying a probe would be conducted in due course.

However, a probe is yet to be initiated.

Related documents

Skyline 06 10 14 001

01. Letter permitting Skyline Aviation to occupy building at SLAF Weerawila

Skyline 06 10 14 002

02. Letter requesting to occupy building at SLAF Weerawila

Skyline 06 10 14 003
03. Excerpts of the financial statements

Related articles :

Another duty-free aircraft for Skyline?

More frauds by Skyline Aviation revealed

Skyline Aviation in a massive tax fraud?

Last Updated on Monday, 20 October 2014 12:30

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