Colombo, Oct. 21 (Daily Mirror) - The Inland Revenue Department (IRD) and the Excise Department have signed a Memorandum of Understanding (MoU) to strengthen cooperation in combating tax evasion, money laundering and related financial crimes.
The agreement establishes a joint mechanism for sharing intelligence and conducting parallel investigations based on information exchanged between the two departments.
The initiative follows amendments introduced under the Prevention of Money Laundering (Amendment) Act No. 16 of 2026, which, with effect from August 4, 2026, classifies offences relating to tax evasion under Section 189 of the Inland Revenue Act and offences under the Excise Ordinance as unlawful activities in the context of money laundering.
The MoU aims to expand audit operations targeting tax evasion, minimise illicit financial flows and streamline revenue collection procedures, while making more effective use of state resources to achieve government revenue targets.
The agreement was signed at the Ministry of Finance at 9.00 a.m. today (October 21, 2026), under the patronage of Deputy Secretary to the Treasury A. N. Hapugala.
Commissioner General of Inland Revenue Rukdevi Fernando and Commissioner General of Excise M. B. N. A. Pemaratne signed the agreement on behalf of their respective departments.