November 20, Colombo (LNW): Sri Lanka’s Inland Revenue Department (IRD) has reported its most successful year on record, surpassing all previous tax-collection figures and offering a rare lift to the country’s strained public finances.
By November 17, the IRD had amassed roughly Rs. 2,002 billion in revenue—comfortably overtaking last year’s total of Rs. 1,942,162 million. Officials estimate the year-on-year rise at just over Rs. 60 billion, a development hailed as a significant boost to government coffers.
Commissioner General R. P. H. Fernando remarked that the department’s efforts had “materially strengthened the state’s financial footing”, noting that improved compliance, updated digital systems, and more targeted enforcement had contributed to the record figures.
Several senior officials suggested that the department’s outreach campaigns—aimed at encouraging voluntary compliance among small and medium-sized enterprises—also played a quiet but meaningful role.
In a parallel achievement, Sri Lanka Customs confirmed last week that it had exceeded its revenue target for 2025 well ahead of schedule. By November 12, the agency had collected approximately Rs. 2,117.2 billion, edging past its target of Rs. 2,115 billion. Some observers say the strong performance from both agencies may indicate early signs of stabilisation in trade activity and domestic economic behaviour.
Government representatives are expected to reference these results when presenting updated fiscal projections later in the year.
