ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846
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LTTE Need for a Balanced Assessment

part of these incomes had not been disclosed to the colonial government. The post-colonial state now declared that if this income was brought out into the open and tax paid upon it, the offenders would not be prosecuted. The scheme was later repeated with questionable legitimacy in the purely post-independence context in the mid-60s and mid-70s. The line between pragmatism and fiscal surrender was, however, crossed with the Special Bearer Bonds (Immunities and Exemptions) Act 1981 which first placed the tax evader in a position superior to that of the taxpayer This approach has now been extended to external finance.

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