Enhanced surveillance on payments aims to snare tax dodgers

The Independent Public Revenue Authority plans to upgrade its systems to be able to monitor every individual’s and business’ electronic transactions, from bank deposits and withdrawals to payments.

Only cash transactions will escape the tax authority’s watchful eye.

The system will be up and running by the end of March 2024, at the latest, and will impact tax revenue in 2025, when the budget must achieve a primary surplus exceeding 2% of GDP.