Tax revenue collection exceeds Rs 2 trillion mark

Sri Lanka
By Editor_1

COLOMBO – Sri Lanka’s Inland Revenue Department (IRD) has recorded the highest tax revenue collection in its history, surpassing the Rs 2 trillion milestone, officials announced.

As of November 17, the IRD has collected approximately Rs 2,002 billion, marking a significant increase from last year’s revenue performance. According to official data, the IRD collected Rs 1,942.16 billion in 2024, with this year’s figure showing a rise of Rs 60.08 billion.

Commissioner General of Inland Revenue, R.P.H. Fernando, said the achievement reflects the department’s strengthened enforcement measures and a renewed focus on improving tax administration. He noted that surpassing Rs 2 trillion highlights the IRD’s “substantial contribution toward stabilizing the government’s financial position”.

The announcement comes as Sri Lanka Customs, another major state revenue agency, last week reported record earnings of Rs 2,117.2 billion, exceeding its annual revenue target of Rs 2,115 billion set for end 2025.

The strong revenue performance by both agencies comes amid Sri Lanka’s ongoing fiscal reforms and efforts to increase government revenue in line with commitments under the  International Monetary Fund program.

-ENCL

Editor_1
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