W. M. Mendis and Co is a well-established company with a long history of providing quality services. They have been in operation for over 50 years.
The company has a strong presence in the market, with a wide range of clients across various industries. Their expertise in regulatory compliance is unparalleled.
W. M. Mendis and Co has a team of experienced professionals who are well-versed in regulatory matters. They have a deep understanding of the laws and regulations that govern their clients' industries.
Their regulatory expertise is not limited to a single area, but rather encompasses a broad range of topics, including environmental and financial regulations.
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Company Information
W. M. Mendis and Co is a company with a rich history. The company was founded in 1904.
Their headquarters is located in Colombo, Sri Lanka. This strategic location has allowed the company to establish a strong presence in the local market.
The company has been in operation for over 115 years, a testament to its resilience and adaptability. This longevity has enabled the company to build a loyal customer base.
W. M. Mendis and Co has been a family-owned business for generations. This family legacy has contributed to the company's values and mission.
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Regulatory Issues
W.M. Mendis & Co. has been dealing with regulatory issues, specifically with the Excise department. They failed to pay Rs. 5.7 billion in excise taxes and surcharges.
The company's liquor manufacturing license was suspended effective from December 5, 2024, due to non-payment of tax arrears and surcharges. This was ordered by the Commissioner General of Excise as per the provisions of the Excise Ordinance Act.
Measures were taken to suspend the liquor manufacturing process from December 5, 2024, and not to renew the other licenses issued to the company from December 31 onwards if the company continues non-payment of tax arrears and surcharges.
The company had been given a deadline to pay their arrears taxes, but it seems they didn't meet the deadline. In fact, a court even rejected their petition challenging the Excise license suspension.
Here are the key dates related to the regulatory issues faced by W.M. Mendis & Co.:
- Nov 13th, 2024: Five liquor distilleries given deadline to pay arrears taxes
- Dec 3rd, 2024: Excise Dept. to suspend licenses of tax defaulting liquor manufacturers
- Dec 4th, 2024: Court rejects W.M. Mendis' petition challenging Excise license suspension
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