The Ministry of Finance, Planning and Economic Development in Sri Lanka is soliciting public proposals to enhance revenue collection, aiming to reach 20% of GDP, a key fiscal target. This initiative supports the country's International Monetary Fund (IMF)-backed reform program, which has seen revenue outperform expectations, though economic growth is now projected at 3% for 2026 due to Middle East conflict-related external shocks. The government seeks to sustain fiscal consolidation by broadening the tax base, improving compliance, and reducing reliance on tax rate hikes, moving beyond structural reforms. The Revenue Management Committee (RMC), established under the Public Financial Management Act, No. 44 of 2024, is accepting evidence-based proposals from various entities and individuals on topics like formalizing the informal economy and digitalizing revenue agencies, with submissions due by June 16.