Revenue Officials Struggle to Meet Targets Amid Imports Slump

Sri Lanka’s Inland Revenue Department (IRD) is confronting one of its most difficult enforcement years as officials warn that revenue targets may be increasingly unrealistic in the face of collapsing vehicle imports, stagnant taxpayer expansion, and widespread disruptions caused by the recent cyclone and floods.

A high-level meeting chaired by Deputy Minister of Economic Development Nishantha Jayaweera has now placed urgent pressure on the IRD to produce a “practical and achievable programme” to meet the government’s ambitious annual revenue goals.

The meeting brought together senior Finance Ministry leadership and Commissioner General Rukdevi Fernando, who acknowledged the need to widen the tax net while also reducing procedural burdens that discourage compliance. According to the Finance Ministry statement, the discussion focused heavily on simplifying tax-return filing, accelerating public awareness programmes, and encouraging voluntary compliance to reduce enforcement costs.

 

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