Education

Sri Lanka Registers 200,000 New Taxpayers as Revenue Hits Historic High

Sri Lanka’s Inland Revenue Department (IRD) reports that 200,000 new taxpayers have been added so far this year, alongside the registration of 18,000 new companies.

Speaking at a media briefing, IRD Commissioner General Rukdevi Fernando said the department was assigned a revenue target 18% higher than last year — and has already surpassed expectations.

“Last week, the Inland Revenue Department achieved the highest revenue collection in its history, surpassing the Rs. 2 trillion target. To date, the department has collected Rs. 2,080 billion,” Fernando stated.

The IRD says these results reflect strengthened tax administration efforts and growing compliance across both individuals and businesses.

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