The Inland Revenue Department (IRD) has surpassed its expected tax revenue target for the first nine months of 2025, collecting Rs. 1,641,997 million, which is 102% of the estimated Rs. 1,610,599 million as of September 30, 2025.
The achievement represents 75% of the total annual target of Rs. 2,195,220 million for the year. Officials disclosed these figures during the recent Committee on Ways and Means meeting held in Parliament on October 8, chaired by MP Wijesiri Basnayake.
Compared to the same period last year, tax revenue collection shows a notable increase, reflecting stronger fiscal performance and improved tax compliance. In 2024, the IRD had achieved approximately 68% of the annual target by the end of the third quarter, indicating a year-on-year growth of around 7 percentage points in performance.
Committee members commended the IRD for the progress made and discussed measures to sustain the momentum, including digitalization of tax systems, enhanced tax administration, and broadening the tax base.
Chairman Basnayake instructed IRD officials to submit proposals outlining the department’s planned reforms and strategies to further strengthen revenue collection mechanisms.
The meeting was attended by members of the Committee on Ways and Means and senior IRD officials, including Commissioner General Mrs. R.P.H. Fernando.
