Sri Lanka’s Ministry of Finance, Planning and Economic Development has invited evidence-based public proposals to raise government revenue toward a medium-term target of 20 percent of gross domestic product, with submissions due by June 12.

The call was issued by the Revenue Management Committee (RMC), the inter-agency body that coordinates revenue-policy work across the Treasury. “The RMC requests all parties to submit evidence-based proposals aligned with the Government’s medium to long-term objective of improving government revenue performance toward reaching 20 percent of GDP, through improved efficiency, broadened tax base, and formalization of the informal economy,” the ministry said in a notice carried by EconomyNext.

Registered think tanks, universities and research institutions, professional associations, private-sector entities, NGOs registered in Sri Lanka, and citizens with demonstrated expertise in fiscal policy are eligible to participate. Submissions should be made in PDF format to [email protected].

The 20-percent target is one of the headline fiscal-consolidation commitments under Sri Lanka’s IMF Extended Fund Facility. Reaching it requires both administrative tightening — narrowing the gap between current and potential collections — and structural moves to formalise the 56.9% of employment that the Department of Census and Statistics still classifies as informal, where gig-platform riders and other workers operate outside the tax net.

The consultation comes only days after the IMF Executive Board cleared Sri Lanka’s combined fifth and sixth reviews, unlocking US$695 million, and as the next review cycle begins. IMF Mission Chief Evan Papageorgiou has said debt risks remain elevated even as the trajectory improves, and the Ceylon Chamber of Commerce welcomed the approval while urging reform momentum. The RMC’s June 12 deadline gives the upcoming review cycle a window to incorporate fresh ideas before staff-level negotiations resume.

Update — June 5: A fresh Newswire report cited the Revenue Management Committee notice with a submission deadline of June 16 and gave the contact address as [email protected], suggesting the consultation window has been extended by four days from the original June 12 deadline. The Committee was established under the State Finance Management Act No. 44 of 2024.

Sources: Sri Lanka calls for public proposals to boost tax revenue to 20-pct of GDP — EconomyNext.