July 24, 2024
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    In the first three months of the year, major government revenue generating companies have exceeded the expected targets

    April 23, 2024

    State Minister Siambalapitiya says that instead of the target of 787 billion, an income of 834 billion has been received.

    State Minister of Finance Ranjith Siyambalapitiya has said that the government's income in the first quarter of 2024 has been higher than expected. During that period, the Sri Lankan Customs, Excise and Inland Revenue Departments, which earn the country's main income, have earned 834 billion rupees, The Minister mentions that it is 6% more than the expected income of 787 billion rupees.
    The minister pointed out that in the first quarter of 2024, 430 billion rupees were generated, a 13% increase over the 381 billion rupees provided to the Inland Revenue Department. The Minister says that the Customs Department has achieved the target of 353 billion rupees and the Excise Department has earned 51 billion rupees with 96% revenue.
    In 2024, the government expects revenue of Rs 4106 billion, of which 93% is tax revenue, the minister pointed out. Mr. Siambalapitiya stated that the reason for the economic crisis is the lack of government income, and considering the exceeding of these targets in the first quarter and the income pattern, he said that the year 2024 will be a year in which the revenue targets can be reached.

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