IRD Surpasses 2025 Goal with Record Collections

COLOMBO (News 1st); Sri Lanka’s Inland Revenue Department (IRD) has exceeded its annual revenue target for 2025, generating an additional Rs. 50 billion in tax income beyond expectations.

Deputy Minister of Finance and Planning Dr. Anil Jayantha Fernando attributed this success to minimizing losses and strengthening public trust in the tax system, which encouraged compliance and boosted collections.

Deputy Minister of Economic Development Nishantha Jayaweera revealed that the IRD’s revenue target for 2025 was Rs. 2,195 billion, a figure now surpassed for the first time in history. "They’ve earned Rs. 50 billion extra—an unprecedented milestone," he said.

Dr. Fernando emphasized that restoring confidence among taxpayers was not easy, given past experiences where tax revenue was not effectively utilized for national development.