The Department of Inland Revenue says that overall tax revenue in 2024 is expected to show a significant increase. The department points out that there has been a growth of 42.22% in the year 2024 compared to the year 2023.
The Inland Revenue Department released its annual performance report for the previous year on the day before yesterday (30) and it shows that the estimated tax revenue for the year 2024 was Rs. 2,740.44 billion.
However, it shows that the target revenue for that year was Rs. 2,620.07 billion and accordingly, it has been possible to earn Rs. 120.38 billion more than the target revenue.
The actual revenue collected in the year 2023 is Rs. 1,842.32 billion and it has been possible to increase it to Rs. 2,620.07 billion last year.