The Inland Revenue Department (IRD) has crossed the Rs. 1 trillion tax revenue mark, with collections exceeding the figure as of May 18, 2026, the department announced.
In a statement issued on Wednesday, Commissioner General Rukdevi P.H. Fernando said the milestone marks a significant step in strengthening the country’s financial stability and supporting public services. The department thanked taxpayers who had paid directly and indirectly, saying public compliance played a key role in reaching the figure.
Crossing Rs. 1 trillion this early in the calendar year is unusual for the IRD and reflects both higher statutory rates introduced under the IMF programme and improved compliance efforts under the digitalised filing system. The department said the result reflects “continued revenue mobilisation efforts amid the country’s ongoing economic recovery process.”
The milestone follows a parallel landmark at Sri Lanka Customs, which crossed Rs. 1 trillion in revenue in just 132 days earlier this month and went on to report Rs. 1.18 trillion through April, including a single-month record of Rs. 236.5 billion. With both major revenue agencies tracking well above last year’s run-rates, government tax intake — a key marker for IMF programme reviews — is comfortably ahead of schedule for the first half of 2026.
The IRD’s first-quarter collections of Rs. 606 billion had already pointed to an accelerating trajectory, and the latest figure suggests April and the first half of May added close to Rs. 400 billion in additional intake. The Commissioner General’s office did not break the Rs. 1 trillion total down by income tax, VAT and other heads.
Source: Newswire.
