The updated software of the Revenue Administration Management System (RAMIS) is to be implemented by next month, said State Minister of Finance Ranjith Siyambalapitiya. 

“We are set to commence RAMIS 2.0 by this December,” State Minister Siyambalapitiya said.  

He made these remarks while attending an event.

He added: “We have a self-decisive tax system in which the taxpayer decides how much should be paid in taxes to the Government following profit while the Inland Revenue Department (IRD) intervening finalises the tax amounts. The data is collected through its (RAMIS’s) electronic system.” 

He added the project RAMIS extended over a decade as it was pending due to justifiable reasons such as changes in the ordinances – which resulted in the addition of separate sets of data to the said system – the Covid-19 pandemic, and the economic crisis. 

The RAMIS system has been upgraded with a capital of Rs. 10 million following when President Ranil Wickremasinghe underscored the importance of the functioning of the system and was instructed by the relevant officials to allocate the needed capital, Siyambalapitiya explained. 

The State Minister noted that it not only collects data but also integrates institutions such as Sri Lanka Customs, the Excises Department, Land Registries under the Registrar General’s Department Sri Lanka, and the Department of Registrar of Companies, which is pivotal.

Dealings between officers and taxpayers are conducted online to mitigate errors and seamless information transferring, he noted. 

“Therefore, I believe the revenue (of the Government) will be increased.” he added.

During a press briefing held at the President Media Center (PMC) in September, State Finance Minister Shehan Semasinghe said: “Government revenue was 8.3% of the gross domestic product (GDP), but with tax reforms, the Government looks forward to improving it to 15% of the GDP,”  as the upgraded RAMIS is expected to tackle those who fail to pay taxes regularly and enforce them to pay taxes to the Government of Sri Lanka, which would increase its revenue.