The Government’s revenue targets for this year have shown further decline with all indications that even the revised targets will not be met, a senior Inland Revenue Department official said.

The Government, which started off with a revenue target of Rs 800 billion at the beginning of the year subsequently brought it down to Rs 600 billion and thereafter reduced it to Rs 470 billion.

However, a senior IRD official said the department had sought a further reduction to Rs 411 billion, but that too might not be achievable by the end of the year.

http://www.sundaytimes.lk/201108/news/govt-s-revenue-target-tumbles-big-companies-unable-to-pay-taxes-421970.html