The Korean government has launched a project to establish a system by which notification and payment of taxes and other public charges can be transacted via the Internet. According to the Ministry of Finance and Economy, the government has already begun the process of conducting a Business Process Re-engineering programme (BPR) to review the financial management systems of various government agencies as a precursor to creating a system that will offer online real time information on the the management of the state revenue.
The government also aims to adopt Enterprise Resource Planning (ERP) and Enterprise Data Warehousing (EDW) schemes which will analyse the effectiveness, soundness and productivity of budget management.
It is expected that the facilities to allow electronic payment of taxes will be completed by the end of 2002, and by 2003 it hoped that double entry bookkeeping and consolidated financial statements for effective management of the national budget, assets and liabilities will be in operation.
The ministry hopes that the project will allow the government to save up to 117.5 billion won ($90.1 million) on labour, paper and other expenses.
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