ECONOMYNEXT – The Korea International Cooperation Agency (KOICA) will give Sri Lanka’s Colombo Municipal Council 8.5 million US dollars to automate revenue generation systems, minister Nalinda Jayatissa said.
“The Colombo Municipality generates a high amount of revenue through 4 main sources of revenue; assessment tax, license fee, trade tax and stamp duty,” Jayatissa told reporters.
The Cabinet of Ministers had approved the proposal on the implementation of the revenue source automation project of the Colombo Municipality utilizing the grant provided by KOICA he said.
“KOICA has agreed to provide an aid of 8.5 million US dollars for that purpose.” (Colombo/Apr29/2025)
