Excise Department Generates Rs. 227 Billion Revenue in 2024

Date:

The Excise Department reported a total revenue of Rs. 227 billion for 2024, narrowly missing the Government’s target of Rs. 232 billion. Despite falling short, the department demonstrated strong performance in certain months, with December recording the highest revenue of Rs. 26 billion.

However, May saw the lowest revenue generation, with Rs. 14.3 billion. Other notable figures include Rs. 23.1 billion in April, Rs. 20.3 billion in August, and Rs. 20 billion in November.

A spokesperson for the department attributed the shortfall in meeting the annual target to the increasing prevalence of illegal alcohol consumption, which poses a significant challenge to legitimate revenue collection. The department’s efforts to curb illicit activities and sustain revenue generation remain a critical focus for the upcoming year.

Share post:

spot_imgspot_img

Popular

More like this
Related

Sri Lanka Tourism’s Race against Time to Hit 2025 Goals

Sri Lanka’s tourism industry is celebrating a symbolic milestone,...

Browns Investments PLC Expands Maldives Footprint with $57.5m Deal

Browns Investments PLC, the leisure and investment arm inside...

JVP/NPP Backs Refinery Deal it once blocked: Ranwala Saga Haunts Credibility

Sri Lanka’s Sapugaskanda oil refinery, a project long strangled...

Sri Lanka’s Foreign Investment Target: Ambitions Outpace Reality

As Sri Lanka navigates its post-crisis recovery, foreign direct...