📈 Sri Lanka Customs Sets Oct 1 Digital Transition, Revenue Surges

• Digital Shift & Security: Sri Lanka Customs will launch its Paperless Customs Declaration Processing System on 1 Oct, integrating LankaSign digital signatures with the ASYCUDA platform. The secure online shift aims to enhance efficiency, prevent fraud, and modernize trade processes without job losses for clearing agents. • July Revenue Outperformance: Customs collected Rs. 227.6 Bn in the first 27 days of July, surpassing its monthly target of Rs. 192.4 Bn (+18.3% over monthly target) and extending its above-target streak to 7 consecutive months. • Annual Revenue Trajectory: Cumulative collections reached Rs. 1,606.7 Bn by 27 July, fulfilling 73% of the 2026 annual target (Rs. 2,207 Bn) in under 7 months. The 2026 target is set 13.5% lower than 2025’s record revenue of Rs. 2,551 Bn (which grew 64.2% YoY from Rs. 1,553 Bn in 2024), driven by anticipated drops in motor vehicle import duties. • Macro Context: Performance continues to bolster national fiscal consolidation, driven by stricter enforcement, improved valuation practices, and recovering trade volumes.