Rs.124.97 bn increase in total 2019 tax revenue | Daily News

Rs.124.97 bn increase in total 2019 tax revenue

It is reported that the total tax revenue of the Inland Revenue Department (IRD) has increased by Rs.124.97 billion in 2019 compared to 2018 due to the Revenue Administration Management Information System (RAMIS) implemented in 2014.

The system handles all basic tax administration, including taxpayer registration, issuance and receipt of tax returns, tax payments and additions, issuance of assessments, receipt and action of tax appeals, issuance of tax refunds, and issuance of clearance certificates. In January 2016, the Inland Revenue Department implemented the RAMIS system as per a proposal submitted to the Cabinet.

According to a department spokesman, the total tax revenue collected by the department in 2019 was Rs. 1,020 billion (1.02 trillion) due to the success of the system.