Thursday, 24 February 2011

Change mooted for receipt system

via CAAI

Thursday, 24 February 2011 15:01 May Kunmakara and Jeremy Mullins

THE Ministry of Economy and Finance has finished a draft prakas aiming to standardise receipts for payments such as licensing fees and fines in a bid to increase transparency and government revenues.

Minister Keat Chhon said on Tuesday that the revamped receipt system would replace one that had been in place since 1984, and was set to become a standard system across the government. A standardised system of receipts would ensure the transparency required for payments ending up in the national treasury, he said.

“[Ongoing] economic and political improvements and subsequent reforms require a change in behaviour – especially changing the old habits,” he said. “Receipt revenue plays an important role for increasing internal revenue.”

The receipt system will specifically be issued for customers making non-taxation revenues, such as licensing and processing fees, fines, and other payments to any government ministry. World Bank official Leah April agreed the receipts would assist the government in becoming more transparent in its revenue collection efforts.

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