Stipulated revenue target of Rs.1.53 trillion

By Kurulu Koojana Kariyakarawana   

Sri Lanka Customs, one of the three main revenue generating arms of the Treasury, had achieved more than 80% of the stipulated revenue target of Rs.1.53 trillion for the year 2024 by end of October, with positive hopes of surpassing the aim before 2025, the Daily Mirror learns.   

During the first ten months of 2024 up to October 28th the Customs had generated revenue of Rs.1.23 trillion and the officials are hopeful of the possibilities of surpassing the stipulated target by end of December this year.   

Customs Additional Director General Seevali Arukgoda told the Daily Mirror that they have collected tax revenue up to Rs.1, 230 billion and collecting another Rs.300 billion is not much of a ‘big deal’.   

The Ministry of Finance had stipulated a target of Rs.1, 533 billion for the Sri Lanka Customs for the year 2024 and the latter is expected to earn a sum of Rs.300 billion during the remaining two months of November and December to complete this target.   

“We usually earn the lion share of our tax revenue from automobile imports, textile and garments, cosmetics and chemicals as well as electronic goods.   

But it is quite an achievement to have earned over 80% of the revenue target without the automobile importation,” the Customs Spokesperson said.   

From 2024 stipulated revenue target of Rs.1.53 trillion; over line