Although this project was started in 2013, due to related acts being amended from time to time and the lack of funds required to complete the project, it took a longer time to complete. But all its activities are currently being completed, the Minister said.

"At present, the country has a tax collection system based on the data provided by each individual and organization. The new electronic system will result in a fairer and more accurate tax system through the storage of specific and accurate data in an electronic system," the Minister added.

"With this new system, the Inland Revenue Department (IRD), Customs, Excise Department, the Registrar of Companies Department, Land Registration Department etc. will be connected to each other.

According to the new electronic method, the IRD and taxpayers are connected through the online system to reduce errors, and the information required by the taxpayers is immediately available," he said.

The Minister also mentioned that there will be an opportunity to get it online.

Almost all countries in the world have developed their revenue systems by using electronic technology for that purpose, the Minister added.

DN