Taxpayer Identification Numbers soar in Sri Lanka

The Inland Revenue Department in Sri Lanka has reported a significant surge in the number of individuals registering for Taxpayer Identification Numbers (TIN), reaching a remarkable milestone of nearly 01 million. 

This noteworthy increase comes in stark contrast to the 204,467 personal tax files recorded in the fiscal year 2022.

The latest data reveals an impressive upward trajectory, signaling a surge towards the one-million mark in TIN registrations.

Besides , the Inland Revenue Department has noted a substantial rise in the number of tax-paying companies, reflecting a commendable 10 percent increase. In comparison to the 73,444 registered tax-paying companies in 2022, the current count stands at 81,909 as of November 30, 2023, showcasing a positive trend in corporate tax compliance.