On July 15, 2025, the Inland Revenue Department (IRD) of Sri Lanka reported a remarkable fiscal milestone in Colombo. “The Inland Revenue Department (IRD) has announced that it has collected a total of Rs. 1.368 trillion in tax revenue between January 1 and July 11, 2025, marking a significant milestone in the country’s fiscal performance,” as stated by the department. This achievement underscores Sri Lanka’s strengthening economic framework.
“Senior Deputy Commissioner J.T. Chandana announced this during a TV One program,” highlighting the IRD’s progress. “He said that the department has already surpassed 48% of its annual revenue target, with Rs. 1.051 trillion collected by June 30 alone,” Chandana noted, emphasizing the robust collection pace. By mid-July, the IRD had exceeded expectations, reflecting enhanced tax compliance and administrative efficiency.
Chandana credited the nation’s taxpayers for this success. “Chandana emphasized that this achievement reflects the growing commitment of taxpayers, whom he described as the nation’s most valuable resource,” he said. He further highlighted the improvement over previous years: “He noted that in previous years, revenue collection during the first half of the year hovered around 40%, but in 2025, it has exceeded 45%, showing a marked improvement.” This surge aligns with recent policy changes, including higher VAT rates and expanded tax nets, as noted in reports from 2024, where the IRD collected Rs. 1.95 trillion annually.
Posts on X echo public pride in this fiscal progress, though some call for transparency in fund allocation. With a 2025 revenue target of approximately Rs. 2.85 trillion, the IRD’s performance signals a strong economic trajectory, with further updates expected by November 2025.