Economy & Market

Tax revenue: SL Customs posts 65% increase

Sri Lanka Customs, the national border agency, has seen a 65% increase in revenues so far with Rs. 2,497 billion posted by yesterday (29), Customs Media Spokesperson and Director of Customs Chandana Punchihewa said.

Previously, the agency’s revenue target for the year was set at 2,115 billion for this year, which had been promptly revised in November to Rs. 2,231 billion, which has also now been surpassed.

Punchihewa attributed the increase in revenue to internal measures implemented by Sri Lanka Customs, alongside the resumption of vehicle imports.

He explained that the previous year’s revenue target stood at Rs. 1,531 billion, while this year’s target was substantially increased based on the decision to allow vehicle imports.

“Vehicle imports contributed to exceeding the revenue target, along with the various measures adopted by Customs,” he added.

Source - The Morning