Punitive legal provisions will be introduced to ensure that the private tax consultants and auditors representing the tax payers and prepares and certifies fraudulent tax reports, aids and abates in such action will be faced with such consequence including being barred from practicing, Prime Minister Mahinda Rajapaksa said in Parliament today (17).

He commenced delivering the budget speech to the Parliament at 1.40 pm today (17).

The premier further noted that the government intends to bring necessary changes to the Inland Revenue Department (IRD) to facilitate enhanced self-compliance and strengthen tax audits in ensuring increased tax revenue in the background of the simplified tax regime.