Sri Lanka's Inland Revenue Department collected over Rs. 200 billion in tax revenue in November 2024, primarily due to excise duties on alcohol under the Tobacco Tax Act, marking significant progress toward its increased annual target of Rs. 2,024 billion.
The Inland Revenue Department of Sri Lanka reported a tax revenue exceeding Rs. 200 billion in November 2024, driven by excise duty on alcohol under the Tobacco Tax Act, according to the Department of Government Information. While the expected monthly revenue was Rs. 232 billion, the agency has made significant progress, having already achieved 60% of its Rs. 2,024 billion annual target by August. This year’s target marks a 30% increase from the previous year’s Rs. 1,550 billion, with provisional data indicating revenue targets were exceeded in Q1 2024.