COLOMBO: The government has been able to earn a reported income in the first seven months of this year following the introduction of its efficient tax collecting mechanism, Minister of Finance Ravi Karunanayake said. The minister said that this income was generated by The Inland Revenue Department, the Excise Department and the Sri Lanka Customs Department.
The three departments have earned 769,753 million rupees to the government coffers for the first seven months of this year against 625,866 million rupees in the same period of last year. Accordingly, the government received extra income of 143,887 million rupees from the three institutions. It is an increase of revenue by 23% during this period comparing to the same period of 2015.
At the same time, Department of Sri Lanka Customs has earned 457,616 million rupees for the first seven months of 2016 against 376,842 million rupees in the previous year. Accordingly the revenue by the Department of Sri Lanka Customs has been increased by 21.5%.
The Department of Inland Revenue’s earning in the first seven months of 2015 was reported as 191,596 million rupees and it has increased up to 242,811 million rupees during the same period of this year. Accordingly, the income earned by the Departments of Inland Revenue in the first seven months of 2016 has increased by 26%.
Meanwhile the Excise Department has earned 69,326 million rupees for the first seven months of 2016 against 57,276 million rupees reported during the corresponding period of the previous year. Accordingly, the revenue of the Excise Department has increased by 21%.
