Sri Lanka Customs hits record revenue milestone amid launch of new trade facilitation system

Date:

August 17, Colombo (LNW): Sri Lanka Customs has reported its most substantial monthly revenue collection on record, bringing in an impressive Rs. 235 billion last month — a landmark achievement for the institution and a notable reflection of the country’s evolving trade and fiscal landscape.

This historic revenue milestone was revealed by the Director General of Customs, Sunil Nonis, during the official unveiling of the Customs Document Notification System (CDNS) on the 15th of this month.

The new system has been developed to streamline communications with importers and exporters, offering automated alerts and improved tracking for documentation, with the aim of reducing bottlenecks and enhancing operational transparency.

Addressing the gathering, Nonis underscored the significance of the revenue achievement, noting the remarkable progress made in just over a year. “We once marked Rs. 100 billion in monthly collections as a major breakthrough. To now surpass Rs. 235 billion in a single month is an extraordinary leap forward,” he remarked.

Officials attribute this surge in revenue to a combination of factors, including strengthened enforcement measures, the adoption of technology to minimise leakages, and a rise in international trade activity following macroeconomic stabilisation.

The Customs Department has been focusing on modernising its processes and increasing efficiency, while also tightening its grip on illicit trade and under-invoicing — efforts that appear to be yielding tangible financial results.


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...