Sri Lanka accelerates tax digitization drive under 2030 digital economy plan

• Presidential Call for Tax System Enhancements: Sri Lanka’s President has urged for upgrades to the tax system and increased digitalization to support the country’s digital economic goals for 2030, emphasizing the need for efficient and transparent tax administration.
• Focus on Infrastructure and Compliance: The discussion included plans to improve the Revenue Administration Management Information System (RAMIS), address its challenges, adopt Point of Sale (POS) systems, and enhance compliance measures to minimize the tax gap and streamline processes.
• Objectives for Broader Tax Base: These initiatives aim to expand the tax base and facilitate tax compliance among the public, ultimately supporting the country’s economic recovery and growth amidst ongoing challenges.

Source Pagero

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