IRD Registers 200,000 New Taxpayers as 2025 Revenue Surges
- CNL Reporter
- November 26, 2025
- Political
- IRD
- 0 Comments
Sri Lanka’s Inland Revenue Department (IRD) announced that 200,000 new individual taxpayers have been registered so far this year, bringing the total to 1.2 million. At a media briefing, Senior Deputy Commissioner P. Nandana Kumara said revenue performance in 2025 continues to exceed expectations, with over Rs. 2 trillion collected by 17 November—surpassing the full-year 2024 total.
The Department has also recorded 18,000 new company registrations, reflecting increased business formalisation, while excise duty registrations have risen to 30,000. VAT revenue is up 21% compared to last year, and income tax collection has increased 14%, driven by improved compliance and expanded taxpayer coverage.
Officials confirmed that the personal tax threshold for 2025 has been raised from Rs. 1.2 million to Rs. 1.8 million, providing relief for lower-income earners. The IRD expects to meet its annual 2025 revenue target ahead of schedule.
