Addressing the 9th Annual General Meeting of the Sri Lanka Retailers’ Association, the Minister said many businesses operating through digital platforms remain unregistered and outside the tax system, creating challenges for businesses that comply with legal and tax obligations.
He noted that authorities have identified significant financial transactions taking place through informal channels, with an estimated USD 780 million reportedly flowing out of the country through such activities.
The Minister stated that although approximately 65,000 businesses are officially registered in Sri Lanka, a much larger number continue to operate without formal registration. He pointed out that some leading companies alone have distribution and agency networks exceeding 200,000 individuals.
Samarasinghe also highlighted the economic significance of the retail industry, noting that it plays a key role in generating employment and business opportunities across the country. According to him, the sector accounts for more than one-fifth of the national economy and supports nearly two million jobs.
