ICCSL-RKMT's Digital Tax Blueprint for Budget 2026 📈

• The ICCSL-RKMT has proposed a 'Blueprint for Smarter Revenue Mobilisation' focusing on modernization, simplicity, and building long-term trust for the upcoming 2026 Budget. • Proposal 1: Digitalisation Tax Credit • Suggests a two-year tax credit (up to 25%) for enterprises, especially SMEs, that invest in digital compliance tools like e-invoicing systems, ERPs, and cybersecurity. • Rationale: Rewards investment in accuracy, transparency, and strengthens the foundation for digital audits. • Proposal 2: Simplified Service Economy Tax Framework • Aims to formalize sectors like freelancers, consultants, and IT professionals. • Small-scale service providers (turnover < Rs. 20M) can voluntarily register and pay a 3–5% presumptive tax on gross receipts. • Encourages automatic tax withholding via e-payment platforms for nearly effortless compliance. • Proposal 3: Integrated Taxpayer Tracking • Recommends a unified digital dashboard to consolidate and provide real-time tracking of registration, filing, payment, audit, and refund status across all tax types. • Goal: Increase transparency, reduce red tape, and restore taxpayer trust. • The proposal advocates for a modern tax culture, noting that the next economic leap will come from "better taxation" rather than more taxes. ICC Paris has offered support for Sri Lanka's digitalisation efforts.