IRD to undergo digital transformation with IMF-backed IT plan

The Inland Revenue Department (IRD) is gearing up for a major digital transformation, following the approval of its Information Technology (IT) Strategic Plan for the period 2025-2027, which was a key structural measure under the International Monetary Fund (IMF) loan programme for Sri Lanka. 
The Cabinet of Ministers this week approved the proposal to implement the IT Strategic Plan for the department just before the IMF’s August 2024 deadline. 
“The preparation of the IT Strategic Plan was mandated as a structural measure under the comprehensive loan facility programme with the IMF and it is expected to significantly enhance the IRD’s efficiency through digital transformation,” Cabinet Spokesman and Minister Bandula Gunawardena said at the weekly post-Cabinet meeting held on Monday. 
The approval marks a critical step in modernising the IRD’s infrastructure and enhancing service delivery, which will pave the way for improved tax administration in the future, according to the minister. 
The strategic plan for the period aims to reduce manual processes, leverage technology to simplify tax collection, reduce administrative burdens and streamline the processes at the IRD, which will help generate more accurate and timely revenue for the country. (NR)