{"id":7596,"date":"2026-10-05T13:41:29","date_gmt":"2026-10-05T08:11:29","guid":{"rendered":"https:\/\/economictimes.lk\/?p=7596"},"modified":"2026-10-05T13:41:30","modified_gmt":"2026-10-05T08:11:30","slug":"govt-plans-major-tax-overhaul-and-full-digitization-to-boost-efficiency","status":"publish","type":"post","link":"https:\/\/economictimes.lk\/index.php\/2026\/10\/05\/govt-plans-major-tax-overhaul-and-full-digitization-to-boost-efficiency\/","title":{"rendered":"Govt plans major tax overhaul and full digitization to boost efficiency"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">Plans are underway to simplify Sri Lanka\u2019s tax system for the upcoming year, making it both highly efficient and user-friendly, according to Deputy Minister of Economic Development Nishantha Jayawardena.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Speaking at the official launch of the digital signature and paperless customs declaration system, the Deputy Minister emphasized that the government is taking decisive steps to streamline the nation\u2019s overall tax structure. A key component of this initiative includes eliminating auxiliary levies currently imposed alongside standard customs duties. Similar simplified, user-focused tax mechanisms are slated to be rolled out across other state institutions in the coming months.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Highlighting the progress made in revenue generation, it was revealed that Sri Lanka Customs is nearing its revenue target of Rs. 2,207 billion for 2026. Officials noted that establishing a streamlined, modernized collection framework is a positive development that will support broader fiscal stability. These initiatives align with the overarching vision of the President and the administration to achieve full digitization across all public sector institutions within a specified timeframe, reducing bureaucracy and modernizing public administration.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Source: Daily News<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Plans are underway to simplify Sri Lanka\u2019s tax system for the upcoming year, making it&#8230;<\/p>\n","protected":false},"author":4,"featured_media":7597,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_uf_show_specific_survey":0,"_uf_disable_surveys":false,"footnotes":""},"categories":[11],"tags":[],"class_list":["post-7596","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-technology"],"aioseo_notices":[],"aioseo_head":"\n\t\t<!-- All in One SEO 5.0.1.1 - aioseo.com -->\n\t<meta name=\"description\" content=\"Plans are underway to simplify Sri Lanka\u2019s tax system for the upcoming year, making it both highly efficient and user-friendly, according to Deputy Minister of Economic Development Nishantha Jayawardena. 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