LNP - Inland Revenue exceeds tax collection target by September

Sri Lanka’s Inland Revenue Department (IRD) has surpassed its expected tax collection for the first nine months of 2025, recording 102 percent of the target by the end of September, officials informed the Parliamentary Committee on Ways and Means. According to data presented to the committee, actual revenue reached Rs. 1.64 trillion as of September 30, exceeding the expected figure of Rs. 1.61 trillion. The amount represents 75 percent of the full-year target of Rs. 2.19 trillion. The figures were disclosed during a recent committee meeting chaired by MP Wijesiri Basnayake on October 8. Committee members reviewed the IRD’s revenue performance, ongoing digitalization initiatives, and challenges in tax administration. Lawmakers also called for further tax reform proposals to strengthen revenue collection and enhance operational efficiency within the department.