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IMF: Digitise tax revenue collection to increase gov't coffers

 
The International Monetary Fund (IMF) says digitising tax revenue collection can improve government finances and help reduce poverty.
 
The Fund says digital systems can make revenue collection more efficient, increase government revenues and improve fiscal outcomes.
 
It points to developments in the Middle East and Central Asia, where it says the digitalisation of revenue collection has produced positive results, including greater spending capacity for basic social services.
 
The informal economy is estimated to account for about 50 per cent of GDP, while retail is the largest sector, contributing about 20 per cent.


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