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IRD receives tax revenue about Rs. 700 bn in 1H23

By: Isuru Parakrama

Colombo (LNW): The Inland Revenue Department (IRD) has collected a total tax revenue of about Rs. 700 billion (Rs. 696,946 million) for the first half of 2023, the Dept said.

This is significantly higher than the revenue collected by the Dept in the corresponding period of 2022, which is Rs. 361,832 million, thereby indicating a positive growth of 93 per cent in the 1H23.

Factors such as decisive changes of the tax policy, the gradual recovery of the economic situation of the country and the efficiency of the efforts put by the Dept contributed to the said growth, according to the Commissioner General of Inland Revenue.

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