Sri Lanka Customs has exceeded its revenue target for August before the end of the month, successfully achieving its monthly target for the eighth consecutive month, according to official data.The Customs Department had set a revenue target of Rs. 190.3 billion for August. However, it collected Rs. 199.6 billion within the first 27 days of the month, surpassing the target by Rs. 9.3 billion.
Despite setting a reduced annual revenue target of Rs. 2,207 billion for 2026 13.5% lower than last year due to expectations of a significant decline in vehicle imports Customs has already collected Rs. 1,832.7 billion, equivalent to 83% of the annual target, before the completion of eight months.
Officials attribute the increase in revenue primarily to the easing of import restrictions imposed after the 2022 economic crisis to conserve foreign exchange, the stabilization of reserves, and the gradual recovery of consumer demand.
They also highlighted stricter enforcement of regulations, increased monitoring of undervaluation and misdeclaration of goods, and improved valuation mechanisms as key factors contributing to higher government revenue.
