SL Customs creates history with record revenue of over Rs. 1.5 t in 2024

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Sri Lanka Customs Director General Sarath Nonis

Director General Sarath Nonis says Department has collected over
Rs. 1.5 t as of yesterday
Asserts collection in last year reflects 55% YoY increase over 2023’s Rs. 975 b
Imports of petroleum, cigarettes, steel products and electric appliances contribute to strong revenue growth
Opines greater autonomy, enhanced operational efficiency, stricter oversight, minimising system leakages aid revenue boost

By Charumini de Silva

In a historic milestone, Sri Lanka Customs yesterday surpassed Rs. 1.5 trillion revenue collection for the first time, setting a benchmark for the future of the Department and the country’s economy.

The Department reported a total revenue of Rs. 1,503 as of 1 p.m. on 31 December 2024, marking a significant increase from the previous high of Rs. 975 billion set in 2023.

“This is a major milestone not only for the Department but also for the entire economy,” Sri Lanka Customs Director General Sarath Nonis told the Daily FT.

The year-to-date (YTD) figure as of yesterday afternoon, at Rs. 1.5 trillion already reflects a 55% year-on-year (YoY) increase compared to the Rs. 975 billion registered by the Department in 2023,” he added.

He attributed the record-breaking revenue to several key factors including improved tax collection mechanisms, stricter enforcement of fines and penalties as streamlined administrative procedures.

The achievement also aligns with Sri Lanka’s commitment to meeting the International Monetary Fund’s (IMF) revenue target of Rs. 1,534 billion for 2024.

Nonis said the achievement reflects the Department’s commitment to strategic planning, technological innovation and operational transparency.

He said the exceptional performance in last year was largely driven by imports of petroleum, cigarettes, steel products and electronic appliances.

“A notable contributor to the Department’s success was its autonomy, with Customs officials empowered to operate without external interference,” he said.

The Director General opined that this independence combined with new technical processes and advanced operational methods introduced over the past two years has significantly improved efficiency and accountability.

Nonis credited the dedication of the entire Customs workforce for their efforts in combating fraud, corruption, and smuggling, further boosting revenue collection.

“The record-breaking performance highlights the importance of strategic autonomy and transparency in enhancing the Department’s capacity,” he noted.