(UTV|COLOMBO) – Sri Lanka Customs (SLC) the country’s largest revenue earning state body has been able to secure a tax revenue of Rs.919.05 billion, contributing 53.7% of the total government tax revenue of Rs.1, 712.31 billion, the lately released annual report for 2018 highlights.
SLC was able to accomplish such an achievement despite the slowdown in trade including the drop-in import quantity, high duty waivers granted and rapid exchange rate fluctuation. This achievement displays outcomes of the adoption to international best practices and effective Customs control initiatives recommended by the World Customs Organization (WCO) in both enforcement and facilitation domains. While collecting the due revenue to the government, Customs was also effective in preventing the importation and exportation of restricted and prohibited goods such as narcotics and also effective in safeguarding the socio-economic, cultural and ecological interest of the society, at the same time facilitating legitimate trade.
[alert color=”faebcc” icon=”fa-commenting”]Keeping up to date with breaking news while you are on the move is now simple with UTV Alerts [textmarker color=”8a6d3b”]Type REG UTV and send to 77000[/textmarker] on your Dialog, Airtel, or Hutch mobile connection[/alert]