Deputy Minister of Finance and Planning Dr. Anil Jayantha Fernando said the achievement was the result of efforts to minimize revenue losses and rebuild public confidence in the tax system. He noted that improved trust encouraged greater taxpayer compliance, leading to higher collections.
Meanwhile, Deputy Minister of Economic Development Nishantha Jayaweera revealed that the IRD’s revenue target for 2025 had been set at Rs. 2,195 billion, a figure that has now been exceeded for the first time in the department’s history. “The Inland Revenue Department has generated an additional Rs. 50 billion, an unprecedented accomplishment,” he said.
Dr. Fernando further acknowledged that restoring taxpayer confidence had been a challenging process, especially in light of past experiences where tax revenues were not effectively utilized for national development. However, he stressed that recent reforms and improved transparency have played a key role in strengthening public trust and enhancing revenue performance.
