Sri Lanka Customs hits record Rs. 1 Trillion revenue in first eight months of 2024

For the first time in history, Sri Lanka Customs has achieved a record revenue of Rs. 1,000 billion (Rs. 1 trillion) in the first eight months of 2024.

Director General of Customs Sarath Nonis attributed this milestone to the administrative authority and officials operating independently without external interference.

The International Monetary Fund (IMF) has set a revenue target of Rs. 1,534 billion for 2024. With Rs. 1,000 billion already collected in the first eight months, Director General Nonis is confident that the annual target can be met within the remaining four months of the year.

Nonis noted that the previous highest revenue record was Rs. 975 billion in 2023. He also mentioned that while car imports typically account for 25%-30% of total customs revenue, this figure has dropped below 6% due to restrictions on car imports in both years.

He further credited the achievement to the guidance and support of Sri Lankan President Ranil Wickremesinghe, who serves as Minister of Financial Economic Stabilization and National Policy, as well as the leadership and contributions of State Ministers Ranjith Siyambalapitiya and Shehan Semasinghe.

Director General Nonis also attributed the department’s success to its independence and the implementation of new operational methods and technical processes over the past two years.

He added that these changes have streamlined operations through advanced technical processes and emphasized the crucial role of the entire customs staff in combating fraud, corruption, and smuggling.

The department continues to enhance its administrative activities under an annual action plan, which includes regular updates and improvements to customs procedures.