The Inland Revenue Department (IRD) has collected Rs. 2,040 billion in tax revenue during the first nine months of 2026, recording a 24% increase compared with the corresponding period last year.

The department collected Rs. 1,642 billion during the same period in 2025, reflecting an increase of Rs. 398 billion this year.

The IRD said the revenue collected up to September 30 represents 85% of its annual tax revenue target for 2026.

MONETABRIEF – The Supreme Court has, for the first time, ordered a respondent to grovel before the nation for abusing state property and betraying the public trust.

In a landmark decision on Tuesday, the apex court ordered former Disaster Management Minister A. H. M. Fowzie not only to pay Rs6.6 million in reparations to the state but also to publicly apologise to citizens whose rights were violated by his actions.

Fowzie pleaded guilty in 2022 to keeping a brand-new Toyota Land Cruiser Prado for personal use for more than five years, even after he had been transferred from the ministry. In August 2024, the High Court fined him a mere Rs400,000 and imposed a two-year prison sentence suspended for 10 years keeping him out of jail.

Public-interest litigant and good-governance activist Chandra Jayaratne petitioned the Supreme Court, arguing that Fowzie’s actions constituted a breach of public trust and a loss to the entire population.

“I am happy that the court has sent a strong signal with this judgment,” Jayaratne said.

On Tuesday, a three-judge bench headed by Chief Justice Preethi Padman Surasena unanimously agreed. In a judgement written by Justice Janek de Silva, the court held that the case was a classic example of corruption.

“He appropriated that vehicle for his own personal use for approximately five years, treating a piece of critical public infrastructure as his personal property,” the 34-page judgement said. “This is a textbook betrayal of the public trust.”

The court noted that the Land Cruiser Prado, bearing registration number KI-4666, had been acquired for the Disaster Management Centre and categorised as a “Vehicle Command” – a specialised four-wheel-drive vehicle designed for use in the challenging conditions ordinarily encountered during disasters.

“It is equipped with a robust engine of high cylinder capacity. The vehicle is further distinguished by unique markings and glow-in-the-dark stickers intended to differentiate it from other vehicles during disaster situations,” the judgment said.

The Supreme Court held that there was no dispute that Cabinet ministers required reliable transport. However, the Land Cruiser taken by Fowzie for his personal benefit was a specialised vehicle purchased with a loan from the Dutch government.

“It raises a serious question concerning the breach of the public trust reposed in those entrusted with public resources,” the court said.

The court also found that Fowzie had been using four other luxury SUVs: a Mitsubishi Montero bearing registration number JU-0786, a Land Rover Defender bearing registration number PC-5786, a Toyota Prado bearing registration number GJ-0211 and a Nissan Patrol bearing registration number GL-4246.

The use of so many additional SUVs also breached State Expenses Management Circular No. CA/1/17/1, dated 14 May 2010, which allows a minister to have a maximum of three vehicles for official and personal use.

The court also referred to hadiths, Islamic teachings on good conduct, when considering Fowzie’s use of state property. It noted that the former minister had violated the teachings of his own religion.

“Hadith establishes a strong principle of public trust, integrity and accountability in public administration: public officials must not exploit their authority for private gain, and any benefit obtained because of their official position may amount to a betrayal of the trust placed in them.

“It also warns that those who unlawfully take or misuse public property will be held accountable before Allah on the Day of Judgment.”

“In the present case, the conduct attributed to Fowzie constitutes a dereliction of that reciprocal public duty. It amounts to a disregard of the democratic social order and a breach of the relationship of mutual obligation between the state and the tax-paying public.”

The Colombo High Court on Friday (2) postponed until November 4 the case filed against former Minister Duminda Dissanayake and a Kazakh national over the alleged possession of a gold-plated firearm at the Havelock City housing complex.

The case was taken up before Colombo High Court Judge Udesh Ranatunga, with Dissanayake and the second accused, Aigul Sheragasina, appearing before court.

The court fixed November 4 for the pre-trial conferences after the President’s Counsel appearing for the defence was reported to be indisposed.

The Attorney General has filed indictments against the two accused, alleging that they possessed an unlicensed gold-plated firearm and aided and abetted its possession at the Havelock City housing complex in Wellawatte on May 20, 2025.