Press briefing of Cabinet Decision taken on 2017-06-27

Presenting the Government Revenue Report of the first quarter 2017 in Parliament

- The Government revenue of the first quarter of 2017 is Rs.436 billion and of which 95% amounting to Rs.415 billion is the tax revenue collected. The revenue collection of the first quarter is 22% of the annual estimate and 94% of the target of the first quarter. Tax collection from the Value Added Tax and the Nation Building Tax has exceeded the expected targets. However, the targeted revenue has not been achieved from the Income Tax and the Excise Tax. The attention has been drawn especially, on the low progress from Excise Tax liquor and cigarettes. Accordingly, the proposal made by Hon. Mangala Samaraweera, the Minister of Finance and Mass Media, to table the report pertaining to the above fact and the summary of Government revenue at the end of each month of the first quarter and the end of the quarter of 2017, in Parliament, was approved by the Cabinet.