The Inland Revenue Department (IRD) has recorded its highest-ever tax revenue collection in 2024, amounting to Rs. 1,958,088 million.

This includes Rs. 1,023,207 million collected as income taxes and Rs. 714,684 million as Value Added Tax (VAT).

According to an official announcement from the department, the total revenue collection for last year represents an increase of Rs. 392,229 million compared to 2023, reflecting a growth rate of 25.1 percent.