The Cabinet of Ministers approved a proposal to implement a fully automated revenue generation system for the Colombo Municipal Council (CMC) with financial support from the Korea International Cooperation Agency (KOICA).

Accordingly, the new system will automate the CMC’s four main income sources—property taxes, license fees, trade taxes, and stamp duty—aiming to boost efficiency and revenue collection.

The financial support for this project will be funded by the Korea International Cooperation Agency (KOICA), which has agreed to provide a grant of $8.5 million for the project.