📈 IRD Links Business Accounting Systems Directly to RAMIS for Automated VAT Filing

The Inland Revenue Department (IRD) has launched a direct e-invoicing link allowing VAT-registered businesses to transmit tax invoices automatically from their ERP accounting systems to the Revenue Administration Management Information System (RAMIS) via a secure Web API. • Key Objectives: Eliminates manual invoice entries during VAT return filing to boost efficiency, transparency, and data accuracy, while accelerating VAT refunds and strengthening national tax compliance. • Three-Phase Rollout Strategy: • Phase 1 (Completed): Successfully piloted with API-ready taxpayers, including a major apparel & textiles export company and its primary suppliers. • Phase 2 (Current Expansion): Extending integration to key corporate entities—starting with selected apparel & textiles manufacturers/exporters and tea producers operating via brokers—before opening access to all capable VAT-registered businesses. • Phase 3 (Full Mandatory Adoption): Envisages full coverage following proposed VAT Act amendments, mandating all VAT-registered entities to utilize RAMIS-compliant invoicing or POS systems for taxable transactions and record-keeping.