The International Monetary Fund (IMF) has held discussions with Sri Lanka’s Revenue Administration Reform and Modernisation Bureau (RARMB) to review progress on public revenue reforms and reaffirm its support for the country’s ongoing tax administration modernisation programme.
The meeting, chaired by Secretary to the President Nandika Sanath Kumanayake at the Presidential Secretariat, reviewed reforms implemented over the past year under Sri Lanka’s Medium-Term Revenue Strategy (MTRS), including changes to tax administration, customs procedures, excise operations and the broader public revenue framework.
During the discussions, the IMF delegation also met separately with senior officials from the Inland Revenue Department (IRD), the Ministry of Finance, Sri Lanka Customs and the Department of Excise.
The IMF reviewed progress on digital transformation projects, data integration, leadership and human resource development, and strategies to broaden Sri Lanka’s tax base. It also recognised the RARMB as a “reform hub with a strong governance framework.”
The IMF agreed to continue providing technical assistance and advisory support for reforms being implemented at the IRD, Sri Lanka Customs and the Department of Excise.
According to the President’s Media Division (PMD), tax compliance under the IRD has increased from around 40-45% to 70-75% following the department’s restructuring into Medium Corporate, Metro and Regional Offices.
The PMD also said a draft Bill to amend the Customs Ordinance has been submitted to the Legal Draftsman’s Department, while further reforms, including paperless customs procedures, tariff simplification and improved services for exporters, are planned.
The IMF delegation was led by Fiscal Affairs Department official Andrew Killer and included Revenue Administration Project Manager Cindy Negus, IMF Resident Tax Adviser Greg, Canadian Senior Adviser Bob Hamilton and senior RARMB officials. (Newswire)