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Sri Lanka Customs Achieves Revenue Target for the Eighth Consecutive Month in August
FINANCIAL CHRONICLE – In August, Sri Lanka Customs successfully surpassed its monthly revenue goal for the eighth straight month, reaching this milestone prior to the month’s conclusion, according to official statistics. The revenue target for August was established at 190.3 billion rupees; however, by the 27th day of the month, Customs had already accumulated 199.6…
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Sri Lanka’s Parliament Engages in Heated Discussions Over $2.5 Million Treasury Fraud Scandal
FINANCIAL CHRONICLE – Sri Lanka’s Parliament witnessed a vigorous debate yesterday triggered by the Committee on Public Finance (COPF) report concerning a $2.5 million cyber fraud linked to sovereign debt service payments. This discussion highlighted significant rifts between government and opposition members regarding responsibility, cybersecurity shortcomings, and administrative oversight during a critical period of public…
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Sri Lanka Customs Achieves Record Revenue Milestone for Seventh Consecutive Month in July
Sri Lanka Customs has successfully surpassed its monthly revenue target for the seventh consecutive month in July, as reported by official statistics. The agency’s goal for July was set at 192.4 billion rupees, yet by the 27th day of the month, it had already garnered 227.6 billion rupees, indicating a significant overachievement. For the current…
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IMF Engages in Exclusive Discussions with Sri Lankan Leaders Regarding Revenue Reform Strategies
FINANCIAL CHRONICLE – The International Monetary Fund (IMF) recently engaged in a significant dialogue with representatives from Sri Lanka’s State Revenue Administration Reform and Modernization Department (RARMB) at the Presidential Office, as reported in an official statement. This meeting involved a delegation from the IMF’s Fiscal Affairs Department, including Andrew Kille and Cindy Negus, along…
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Sri Lanka Initiates ‘National Tax Week’ to Enhance Government Revenue
FINANCIAL CHRONICLE – On Monday, July 6, Sri Lanka commenced its first National Tax Week, a strategic initiative aimed at enhancing government revenue and propelling the nation’s developmental agenda, according to a statement from the President’s office. The primary goal of National Tax Week is to reshape the public’s negative views on taxation, fostering a…
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Sri Lanka Customs Surpasses June Revenue Goals by 22%, Achieving 29.5% Growth in First Half of the Year
Sri Lanka Customs has surpassed its revenue goals for May by 22%, with first-half revenue for 2026 showing an impressive increase of approximately 29.5% compared to the same timeframe last year, according to official statistics. The revenue target for June was established at 184.9 billion rupees; however, the agency managed to collect 225.2 billion rupees,…
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Sri Lanka Initiates Tax Awareness Initiative to Transform Public Perceptions
Sri Lanka is set to introduce a nationwide initiative named “Tax Power 2026” (Badu Shakthi 2026) in July, aimed at fostering a culture of voluntary tax compliance and altering public attitudes toward taxation, according to Asitha Munasinghe, the Director of the Revenue Administration and Modernization Unit at the Presidential Secretariat. “The main goal of this…
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Sri Lanka Customs Achieves Revenue Target for Sixth Consecutive Month in June
FINANCIAL CHRONICLE – Sri Lanka Customs has successfully surpassed its monthly revenue goals for the sixth consecutive month, achieving its June objective ahead of schedule, according to official statistics. The revenue goal set for May was 184.9 billion rupees, but within just the first 23 days of the month, the agency reported collections totaling 194.1…
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ANALYSIS: Sri Lanka’s government pauses VAT threshold cut amid significant political and economic shifts.
FINANCIAL CHRONICLE – In a significant shift in policy, the National People’s Power (NPP) government of Sri Lanka, under the leadership of President Anura Kumara Dissanayake, has opted not to proceed with a proposed reform to the Value Added Tax (VAT) initially outlined in the 2026 Budget. The planned reduction of the VAT registration threshold,…
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Sri Lanka Enhances Import Procedures to Curb Unneeded Financial Drain
Sri Lanka is taking steps to enhance the management and oversight of its import activities, as announced by Deputy Finance Minister Anil Jayantha Fernando. This initiative follows investigations that revealed certain importers were disguising their outflow of U.S. dollars as legitimate international trade. In a statement, Fernando explained that the recent Gazette notification issued by…
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Sri Lanka’s Government Revenue Surges with Impressive 50% Growth
FINANCIAL CHRONICLE – According to data from Sri Lanka’s Finance Ministry, the revenue collected by the country’s three main tax agencies has exceeded expectations as of June 8, 2026, showing a growth of over 50% compared to the same timeframe last year. The government has set a tax revenue target of 4,910 billion rupees for…
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Sri Lanka Customs Achieves 16% Surplus in May Revenue Goals
FINANCIAL CHRONICLE – Sri Lanka Customs has surpassed its revenue target for May by 16%, with collections for the first five months of the year showing an impressive increase of approximately 44% compared to the same timeframe last year, according to official statistics. The revenue goal for May was established at 187.8 billion rupees, but…
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Sri Lanka Customs reaches 65% of May revenue goal within the initial 18 days.
FINANCIAL CHRONICLE – According to official statistics, Sri Lanka Customs has achieved nearly 65 percent of its revenue goal for May 2026 within the first 18 days of the month. The revenue target for Customs this month is set at 187.8 billion rupees, and preliminary data indicates that 122 billion rupees has been collected thus…
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Sri Lanka Implements Vehicle Surcharge to Curb Imports Amidst Currency Decline
FINANCIAL CHRONICLE – Sri Lanka has implemented a temporary surcharge of 50 percent on Customs Import Duty for new personal vehicles, effective from May 16 for a duration of three months. This measure aims to curb imports and mitigate the depreciation of the national currency, as stated by Deputy Finance Minister Anil Jayantha. Under this…
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Sri Lanka Customs Achieves Rs.1 Trillion Revenue Benchmark in Just 132 Days
FINANCIAL CHRONICLE – This week, Sri Lanka Customs achieved a significant revenue milestone, surpassing the 1 trillion rupee mark, as confirmed by the agency’s spokesperson. The organization has consistently exceeded its monthly revenue objectives. On Wednesday, May 13, Customs Spokesman Chandana Punchihewa announced, “Yesterday, Sri Lanka Customs reached a remarkable achievement in revenue collection for…