Customs surpasses Rs. 2.2 t annual revenue target

Thursday, 15 October 2026 06:02 - - {{hitsCtrl.values.hits}}

Sri Lanka Customs has surpassed its original 2026 revenue target of Rs. 2,207 billion, collecting Rs. 2,208 billion by 13 October, nearly a month ahead of the date it achieved the previous year’s target.

The achievement marks the second consecutive year Customs has exceeded its annual revenue target ahead of schedule, despite setting a lower initial target for 2026 amid expectations of a significant decline in vehicle imports early in the year.

In 2025, Customs reached its original revenue target of Rs. 2,115 billion on 11 November before exceeding a revised target of Rs. 2,241 billion to collect Rs. 2,557.5 billion by year-end. This represented a record collection and a 64.6% increase over the Rs. 1,553 billion recorded in 2024.

The original revenue target for 2026 was 13.5% below the previous year’s target, reflecting anticipated revenue pressures from vehicle imports. However, collections have already exceeded the target, raising the prospect of another revision if the pace of revenue generation continues.

The department is accelerating digitalisation of its operations. Digital signatures for customs declarations were introduced on 1 October, with the submission process scheduled to become fully digital from 19 October. Declarations submitted under the previous paper-based method will no longer be accepted thereafter.