Korea Eximbank provides consultation to set up automated taxation system

image 1524839166 74bd751b1c in sri lankan news

The Export-Import Bank of Korea (Korea Eximbank) has agreed to provide KSP (Knowledge Sharing Program) policy consultation to establish an automated taxation system in the Colombo Municipality.

The Korean consultant team conducted the inception workshop at the Colombo Municipal Council under the chairmanship Mayor Rosy Senanayake. The KSP is expected to be completed in July 2018.
Local authorities in Sri Lanka, including the Colombo Municipal Council, are currently facing challenges such as uncertain data on taxable property, omissions in charging taxes, inefficient administrative procedures due to existing manual taxing methods, etc. Considering this urgent need to build a strong tax information system, especially for the Colombo city which generates considerably high amounts of tax, the KSP team will design a plan for establishing a tax information system optimal for the Colombo city.
This KSP will also include a specific analysis of the current status of the tax system and property information in Colombo, the sharing of a case study on the taxation system operated by the Seoul city and capacity building programmes.

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