News
IRD secures record tax revenue in 2024
The Inland Revenue Department (IRD) has recorded its highest-ever tax revenue in history, with a collection of Rs. 1,958,088 million.
This total includes Rs. 1,023,207 million from income taxes and Rs. 714,684 million from Value Added Tax (VAT).
The revenue collected in 2024 shows a significant increase of Rs. 392,229 million from 2023 (Rs. 1,565,419 million), reflecting a 25.1% growth rate.
Officials have attributed the surge in tax revenue to improved compliance, policy changes, and economic recovery efforts.
