News Today: Inland Revenue Department tax revenue collection 2025 surpasses goals

The Inland Revenue Department (IRD) has reported a remarkable achievement in tax revenue collection for the year 2025. According to the Department’s presentation to the Committee on Ways and Means, the IRD has successfully collected 102% of its anticipated tax revenue by the end of September 2025.

Officials revealed that as of September 30, 2025, the department collected Rs. 1,641,997 million in tax revenue, surpassing the expected target of Rs. 1,610,599 million. This achievement represents a 102 percent performance rate. Furthermore, from the total annual tax revenue target of Rs. 2,195,220 million set for 2025, Rs. 1,641,997 million has already been collected, accounting for 75% of the overall objective.

During the meeting, chaired by MP Wijesiri Basnayake, the Committee on Ways and Means engaged in a detailed discussion on the current year’s revenue goals, revenue growth in comparison to previous years, and contributing economic factors.

The Committee also focused on strategies and policy reforms aimed at enhancing tax revenue collection. Key areas of discussion included the digitalisation of tax services, improved tax management systems, and overcoming operational challenges.

The Committee Chairman further instructed IRD officials to submit strategic proposals outlining anticipated reforms and technological advancements to support efficient tax administration and sustained revenue growth for the remainder of the year.

This successful revenue collection by the Inland Revenue Department reflects improved compliance, effective enforcement, and the positive impact of recent revenue policies.