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Finance Ministry can't implement ACR fee: Bandula

25 April 2016 05:01 pm - 11     - {{hitsCtrl.values.hits}}


The Finance Ministry did not have the authority to introduce the new Annual Company Registration (ACR) Fee under the Companies Act, the Joint Opposition said yesterday.

Addressing a media briefing, Joint Opposition MP Bandula Gunawardane said the new registration fee would be annually implemented on private companies with a fee of Rs. 60,000.

“For public companies the fee is Rs. 100,000 and for listed public companies the fee is Rs. 500,000,” he claimed.

“These companies had to pay this fee before the end of March, but many of those companies will not be able to pay it and now the payment period had been extended to end June,” he added.

He said the local companies had rendered helpless due to this condition;

“Nearly 5,000 companies had been shut down with the newly introduced company registration fee,” he added.

He said such levies could only be done by the Company Registrar under the Companies Act of 2007.

He said the finances charged by the Company Registrar were earlier centered as 2/3 for the Companies’ Fund and 1/3 for the Consolidated Fund under the Company Act.

“However, at present, 100 percent of the finances were claimed for the Consolidated Fund. Only the Company Registrar is authorised to do it,” he said.

He said as the Joint Opposition, they vowed to the local companies that they would curtail this registration fee up to an amount less than Rs. 15,000, when they again came to office.

Meanwhile, he said that he preferred the participation of these entrepreneurs to the Joint Oppositions’ actual Anti-tribulation May Day rally, which would be held at Kirulapone. (Kalathma Jayawardhane)


Video by Janaka

  Comments - 11

  • lalith de silva Monday, 25 April 2016 05:21 PM

    Please teach srilanka how one can live with Rs 2500 per month............

    Chandana Fernando Monday, 25 April 2016 05:23 PM

    Bandula mantree thuma dannawada Thel mila nisa company laba labana hatie.Masekata eka vahanekin 5000 ta vedei.

    daily merry Monday, 25 April 2016 05:50 PM

    yes. only basil could do it.

    john Monday, 25 April 2016 06:15 PM

    What he is trying to say is "vote us in power" we will bring the fee down to less than Rs. 15000/-

    Kiris Baba Amaray Monday, 25 April 2016 06:31 PM

    Bandula you are leaning with a defeated King, come on man, beg RW and join UNP again.

    Desmond Jeromme Monday, 25 April 2016 06:32 PM

    Banula Politics is not just your tuition where you earned cheating the students in Millions.

    J Palitha Monday, 25 April 2016 06:34 PM

    You and Weerawansa are failed (Arts) guys, no proper qualifications, only mouth.

    Madlin Monday, 25 April 2016 07:07 PM

    Then who can Bandula G tution mudalali. via DM Android App

    J Palitha Monday, 25 April 2016 08:42 PM

    Take it from me Sir, Bandula started giving tuition and at the same time he did drug business par ally with the students.

    Vijith Pieterz Monday, 25 April 2016 08:46 PM

    You are 200% correct Sir. These two guys cheated everyone.

    Aba Jayasekera Tuesday, 26 April 2016 03:50 AM

    I am confused. Bandula says that he will implement his proposal in the first budget of the SLFP when that party comes into power. The earliest time the SLFP could come into power is 5 years from now. Further, if the SLFP carries out its decision to sack the MPs who attend the May Day meeting of the Joint Opposition, and no doubt he will be one of them, he will not be able to contest as a candidate of the SLFP. Further, the Annual Return Fee was Rs 5000/= before the budget Why does he promise to increase it to below Rs.15,000/= ?

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