Sri Lanka Customs has reached a record-breaking annual revenue of over Rs. 1.5 trillion by the end of 2024, marking the highest revenue collection in its history. This achievement brings the Department close to meeting the government’s revenue target of Rs. 1.533 trillion for the year.
Revenue surpassed the Rs. 1.5 trillion milestone by 11 p.m. on December 31, with projections estimating a total of Rs. 1.515 trillion by year-end. The accomplishment represents a 55% year-on-year increase from the Rs. 975 billion recorded in 2023.
“This is a major milestone not only for the Department but also for the entire economy,” stated Sri Lanka Customs Director General Sarath Nonis.
The achievement was credited to several factors, including improved tax policies, streamlined administrative reforms, stricter enforcement of penalties, and increased imports, particularly of petroleum, cigarettes, steel products, and electronics.
The success also aligns with Sri Lanka’s commitment to meeting the International Monetary Fund’s (IMF) revenue target for 2024.
Director General Nonis highlighted the Department’s focus on strategic planning, technological advancements, and operational transparency. He emphasized that the autonomy granted to Customs officials to operate without external interference played a pivotal role in achieving this milestone.
Nonis commended the Customs workforce for their dedication to combating fraud, corruption, and smuggling, which significantly bolstered revenue collection.
“The record-breaking performance showcases the importance of strategic autonomy, innovation, and transparency in enhancing the Department’s capacity,” he added.
Sri Lanka Customs extended its gratitude to taxpayers for their compliance, acknowledging their role in achieving this historic milestone. The achievement sets a benchmark for future revenue targets and underscores the Department’s critical contribution to the national economy.
