Sri Lanka Customs is on course for a record-breaking year as booming vehicle imports, tighter enforcement, and a revival in trade push revenue far beyond expectations under the IMF-backed recovery program.
Sri Lanka Customs is set to exceed its 2025 revenue target by nearly 400 billion rupees, driven mainly by soaring tax income from imported vehicles, according to Director General Seevali Arukgoda. Customs had set a revenue target of 2,115 billion rupees for this year, marking a 36.2 percent increase from last year’s 1,553 billion rupees. However, official data shows that revenue collections had already climbed to 2,312 billion rupees by Sunday, exceeding the initial target by 197 billion rupees.
“We expect the revenue to exceed by 400 billion rupees,” Customs Director General Seevali Arukgoda said. Officials and the IMF have confirmed that vehicle imports have become the dominant contributor to this revenue surge.
The strong performance is largely due to stricter enforcement, improved valuation methods, and a rebound in import volumes after years of decline. Following the 2022 economic crisis, imports had collapsed as the country introduced tight controls to protect foreign reserves. With reserves stabilizing, selected import restrictions eased, and consumer demand recovering, customs collections from duties, excise, and levies have surged.
Authorities also credit tougher action against under-invoicing and misdeclaration for boosting state revenue. Together, rising imports, currency movements, and enhanced monitoring have positioned Sri Lanka Customs as a key pillar of Treasury income in 2025 as the country pursues IMF-backed fiscal recovery.
