IRD Q1 tax revenue jumps 17.7% to Rs. 606 b

Saturday, 11 April 2026 04:23 - - {{hitsCtrl.values.hits}}

The Inland Revenue Department (IRD) yesterday said it collected Rs. 606,002 million in tax revenue during the first quarter of 2026, sustaining strong momentum after a record performance last year.

IRD Commissioner General Rukdevi P. H. Fernando announced that the revenue for the period from 1 January to 31 March rose 17.7% (year-on-year), with all key tax streams; Income Tax (IT), Value Added Tax (VAT), and the Social Security Contribution Levy (SSCL) registering solid gains.

The Department attributed the increase to continued economic expansion, strengthened tax policy measures, improved administration, and enhanced compliance efforts. It was also highlighted a notable rise in voluntary compliance, reflecting growing taxpayer confidence in the system.

The Department said collections in the first three months have already reached nearly 25% of its annual revenue target for 2026.

The Department acknowledged the contribution of taxpayers, as well as public and private sector institutions, noting that their cooperation helped achieve the strong revenue performance in achieving the strong start to the year.