Revenue targets exceeded IRD aims for Rs. 2402 b in 2026

The Inland Revenue Department (IRD) has set a revenue target of Rs. 2,402 billion for the fiscal year 2026, Inland Revenue Commissioner General Nandana Kumara said.

He said that the IRD and Sri Lanka Customs have now signed an agreement to conduct joint audits, and they expect to achieve the target given through this.

He further noted that the IRD successfully exceeded its revenue target in 2025. While the revenue target for last year was Rs. 2,202 billion, the Department achieved Rs. 2,244 billion, recording an additional Rs. 42 billion over the expected amount. 

According to the Commissioner, this marks the highest annual revenue earned by the IRD in its history.

Commissioner Nandana Kumara stated that efforts are underway to achieve the new target through strengthened coordination with Sri Lanka Customs. 

In this regard, the Commissioner General of Inland Revenue and the Director General of Sri Lanka Customs have entered into a Memorandum of Understanding (MoU) to conduct joint audit operations and they expect to achieve the given target.

He further revealed that approximately 12 million individuals have already been issued Taxpayer Identification Numbers (TINs) so far, with expectations to increase this figure to 17 million in the future.

Source: TheMorning