Sri Lanka’s tax revenue has reached Rs. 3,400 billion by the fourth week of September, with the primary balance surpassing its annual target of Rs. 200 billion, Deputy Minister of Economic Development and Minister of Labour, Professor Anil Jayantha Fernando, told Parliament yesterday (25).
As of September 23, revenue collected by the country’s three main tax agencies stood at:
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Inland Revenue Department – Rs. 1,545 billion (103% of target)
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Sri Lanka Customs – Rs. 1,679 billion (113% of target)
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Excise Department – Rs. 176 billion (103% of target)
Minister Fernando noted that Customs has already exceeded its annual tax target of Rs. 450 billion from vehicle imports, collecting Rs. 470 billion by September 23.
He further revealed that Sri Lanka has also surpassed its 2025 primary balance target of Rs. 750 billion, reaching Rs. 970 billion by September 23. However, he cautioned that the figure is likely to decline in the coming months with the expected increase in capital expenditure, eventually settling closer to the annual target.
On broader economic performance, the Minister said that bank credit to the private sector expanded by Rs. 1.4 trillion as of September 23. Meanwhile, export earnings reached USD 11.6 billion in the first eight months of the year, with worker remittances totaling USD 5.1 billion and tourism receipts amounting to USD 2.29 billion.
