Tax administration reform and digitalization needed, parliamentary committee notes

Sri Lanka's parliamentary Committee on Ways and Means has highlighted the critical need for reforming and digitalizing the country's tax administration. During a recent meeting, the committee underscored the importance of leveraging digital technology to enhance the efficiency of tax collection and expand the tax base.

The discussion centered on the nation's financial operations, the progress of tax revenue collection, and the necessary reforms within the tax administration system. Members of the committee stressed that adopting digital technologies is essential for making the tax system more effective and robust.

In addition to digitalization, the committee also emphasized the necessity of strengthening institutional capacities within the tax administration. This focus aims to ensure that the relevant bodies are well-equipped to manage and implement tax policies efficiently, thereby contributing to the country's overall economic stability and growth.