‘Live Events’, organizers of the controversial concert featuring world renowned singer Enrique have agreed to settle the due tax amount to the Colombo Municipal Council (CMC).
The CMC has therefore decided not to take legal action against the company.
The CMC had earlier decided to take legal action against the company after both parties failed to reach a settlement despite several rounds of talks.
Meanwhile, the Treasury Department of the CMC, after investigations, revealed a tax fraud amounting to some Rs.30 million, based on the revenue earned by the company.
Popular cricketers Kumar Sangakkara and Mahela Jayawardane are the main stakeholders of the company which was blacklisted by the CMC due to non-payment of tax.