By: Isuru Parakrama
October 06, Colombo (LNW): The Inland Revenue Department (IRD) has successfully amassed Rs. 1,417 billion in taxes by the end of September 2024, surpassing 70 per cent of its annual target of Rs. 2,024 billion.
This significant progress reflects the department’s efforts to strengthen tax collection and improve fiscal discipline across the country.
In an official statement, Commissioner General Sepalika Chandrasekara commended the positive strides made towards achieving the revenue goals for the year.
However, she also pointed out that several taxpayers under the self-assessment payment system still have outstanding liabilities to settle.
In a move to ensure compliance and expedite the recovery of these overdue amounts, the IRD has announced plans to visit the premises of defaulting taxpayers, starting from October 06.
This effort is part of a broader initiative to ensure that all taxpayers meet their obligations within the stipulated timeframes.
The Commissioner General stressed the importance of timely tax payments, noting that whilst the department has made substantial progress, the cooperation of taxpayers remains crucial in meeting the overall fiscal objectives.
The IRD is committed to taking all necessary measures to close the gap in outstanding dues, with enforcement actions being a key component of this strategy.
With the final quarter of the year underway, the IRD is optimistic that it will continue to make headway in meeting its annual target, ensuring the sustainability of national financial resources.
Taxpayers have been urged to proactively settle their dues to avoid penalties or enforcement actions as the department intensifies its collection efforts in the coming months.
