Friday Jan 16, 2026
Friday Jan 16, 2026
Friday, 16 January 2026 00:24 - - {{hitsCtrl.values.hits}}
The Inland Revenue Department (IRD) has been assigned a revenue target of Rs. 2,402 billion for the 2026 fiscal year, IRD Commissioner General Nandana Kumara said.
Speaking on the Department’s performance and future strategy, the Commissioner General expressed confidence that the ambitious goal can be achieved through closer coordination with Sri Lanka Customs.
He said the IRD and Sri Lanka Customs have entered into a Memorandum of Understanding (MoU) to carry out joint audit operations, a move expected to significantly strengthen compliance and revenue collection.
He noted that enhanced data sharing and coordinated audits would play a key role in meeting the 2026 target.
The Commissioner also highlighted the IRD’s strong performance in 2025, when the Department exceeded its assigned revenue target. While the target for last year was Rs. 2,202 billion, the IRD collected Rs. 2,244 billion, surpassing expectations by Rs. 42 billion.
According to him, this represents the highest annual revenue ever recorded by the IRD.
Kumara said the record performance underscores the impact of ongoing tax administration reforms and improved enforcement mechanisms, adding that similar efforts will be intensified in the year ahead.
He also noted that around 12 million individuals have already been issued Taxpayer Identification Numbers (TINs), with the Department aiming to expand the database to about 17 million in the future as part of efforts to broaden the tax net and improve overall compliance.
