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Sri Lanka mulls IT use in tax reforms

Dilshan Wirasekara, Chairman of the Colombo Stock Exchange

Oct 27, 2010 (LBO) - A report on reforms to Sri Lanka's complex national and regional taxes has recommended using information technology to make it easier to charge and pay taxes, a statement from the president's office said.
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The report by the presidential commission on taxation was handed over to President Mahinda Rajapaksa Tuesday after 14 months of deliberations, it said.

It also recommends measures to simplify the tax system as well as reduce red tape involved in paying taxes, it said.

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The report suggests ways to increase revenue from taxes.

Sri Lanka's state is attempting to increase the tax it extracts from the people to 20 percent of gross domestic product by 2011-16 from the current 14.

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5 percent.
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