IMF reviews Sri Lanka’s revenue reforms, backs continued technical support

Sri Lanka
By Editor_1

COLOMBO – The International Monetary Fund (IMF) has reviewed Sri Lanka’s ongoing public revenue reform program and pledged continued technical assistance to strengthen tax administration, customs and excise reforms aimed at boosting government revenue and improving compliance, the President’s Office said.

The review took place during a high-level meeting at the Presidential Secretariat between officials of the State Revenue Administration Reform and Modernization Department (RARMB) and a delegation from the IMF’s Fiscal Affairs Department.

The IMF team included Fiscal Affairs Department officials led by Andrew Kille, Revenue Administration Project Manager Cindy Negus, IMF Resident Tax Advisor to Sri Lanka’s Inland Revenue Department Greg, Canadian senior adviser Bob Hamilton and senior officials from the RARMB.

According to the President’s Media Division (PMD), the discussions focused on the progress of Sri Lanka’s Medium-Term Revenue Strategy (MTRS), which seeks to strengthen tax administration, customs procedures, excise management and the broader public revenue framework.

The IMF delegation also held separate meetings with senior officials from the Inland Revenue Department, the Ministry of Finance, Sri Lanka Customs and the Department of Excise as part of its assessment.

The discussions placed particular emphasis on accelerating digital transformation, integrating data systems, strengthening leadership and human resource development, and implementing sustainable measures to broaden Sri Lanka’s tax base.

The IMF also reaffirmed its commitment to providing technical assistance and advisory support for reforms being implemented at the Inland Revenue Department, Sri Lanka Customs and the Department of Excise.

The RARMB was established in 2025 under President Anura Kumara Dissanayake’s administration to modernize Sri Lanka’s revenue administration by improving tax collection, enhancing institutional efficiency and coordinating reforms across the country’s three principal revenue agencies.

According to the PMD, reforms within the Inland Revenue Department have already produced significant improvements in tax compliance.

As part of the restructuring program, Inland Revenue offices have been reorganized into Medium Corporate, Metro and Regional offices, contributing to an increase in tax compliance from around 40–45% to between 70% and 75%, the statement said.

The government has also prepared a draft Bill to amend the Customs Ordinance, which has been submitted to the Legal Draftsman’s Department for further action.

Additional customs reforms planned under the programme include simplifying the tariff structure, expanding paperless customs procedures and improving trade facilitation for exporters.

Meanwhile, the Department of Excise is implementing a new Excise Management System to modernize its operations and strengthen regulatory oversight.

The PMD said an integrated coordination mechanism has also been established between Sri Lanka Customs and the Inland Revenue Department to improve information sharing, risk management and tax enforcement.

The new system is expected to facilitate data sharing, joint audits and verification of importer tax compliance through a unified platform, supporting the government’s broader efforts to strengthen revenue mobilisation as part of its economic reform agenda.

-ENCL

Editor_1
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