Inland Revenue surpasses nine-month tax collection target

Friday, 17 October 2025 00:25 - - {{hitsCtrl.values.hits}}

The Inland Revenue Department has exceeded its tax revenue target for the first nine months of 2025, collecting 102% of the estimate, according to data presented to the Parliamentary Committee on Ways and Means.

Officials said the department collected Rs. 1.64 trillion by the end of September, against an expected Rs. 1.61 trillion, reaching 75% of its full-year goal of Rs. 2.19 trillion.

The figures were reviewed during a recent committee session chaired by MP Wijesiri Basnayake.

Attention was also drawn to the plans and challenges for increasing tax revenue, including digitalisation, and tax management. Accordingly, the Committee Chairman informed the officers to provide the Committee with proposals related to the reforms expected from the Inland Revenue Department, the Parliament Secretariat said in a statement yesterday.

Inland Revenue Commissioner General R.P.H. Fernando and senior officials attended the meeting, where members proposed further reforms to strengthen tax administration and improve efficiency.