ECONOMYNEXT –Sri Lanka Customs has achieved 90 % of its income goal by October 20 after exceeding the month-to-month targets each month, the federal government knowledge confirmed.
Sri Lanka Customs has set a income goal of two,115 billion rupees for this 12 months, 36.2 % greater than final 12 months’s 1,553 million rupees.
The income assortment physique of the federal government has collected 1,906 billion rupees as of October 20 to attain over 90 % of this 12 months’s goal, the info confirmed.
The Customs collected document month-to-month income of 253.2 billion rupees in September this 12 months and the very best ever day by day assortment of 24.9 billion rupees on October 16.
Seevali Arukgoda, Customs Director Normal has stated the establishment can simply exceed this 12 months’s goal.
Sri Lanka Customs income leap is essentially because of stronger enforcement, improved valuation practices, and a rebound in import volumes after years of contraction.
Following the financial disaster of 2022, imports had fallen sharply because the nation imposed restrictions to preserve international alternate.
Nevertheless, with the stabilization of reserves, the relief of sure import controls, and a gradual restoration in client demand, customs collections from import duties, excise, and different levies have risen.
Officers observe that tighter monitoring of under-invoicing and misdeclaration of products has additionally contributed to boosting state income.
One other key driver has been the depreciation of the Sri Lankan rupee, which, whereas rising prices for importers, has raised the rupee worth of duties and taxes collected on the border.
On the similar time, the federal government’s push to digitize Customs procedures and strengthen compliance mechanisms has improved effectivity and transparency, plugging income leakages.
The mixed impact of elevated import exercise, forex actions, and stricter enforcement has positioned Customs as one of many prime income sources for the Treasury in 2025, offering an important cushion because the state works to satisfy fiscal targets underneath the IMF-supported program. (Colombo/October 21/2025)
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