• Says record 2023 target possible due to expanded tax base
• Achieves all-time high revenue in 2022

With the Excise Department having received an annual revenue of Rs. 170 billion in 2022, the highest since its inception 110 years ago, it remains optimistic about reaching its annual revenue target of Rs. 217 billion, the highest target in its history, given the new tax base that has been introduced. 

Excise Department Spokesperson Commissioner Kapila Kumarasinghe told The Morning yesterday (8), “We are quite optimistic about reaching this target, though this is the highest that it’s ever been pertaining to the newly introduced tax bases. Moreover, we are still exploring methods to increase Government revenue through the Excise Department taxation,” he conferred.

When questioned regarding the feasibility of the target set and the mechanism that will be employed by the Department to regulate the process, the Commissioner said: “It will not be an easy target; however we are currently trying to recraft our strategies in order to stop the previous leakages from our revenue and introduce more efficient mechanisms for revenue collection activities along with supply chain regulations.”

It was also noted that the new target has been set in the wake of the appointment of the new Excise Department Commissioner General Saman Jayasinghe, who is a senior officer of the Sri Lanka Administrative Service (Special Grade). Before taking up the new assignment, Jayasinghe served the Finance Ministry, among other administrative roles.