Cambodia launches Financial Management Information System (FMIS)
By
B2B Cambodia
on
The Kingdom of Cambodia has launched a new Financial Management Information System (FMIS), which together with a tax data management system, intends to streamline governmental financial information.
Photo Credit: Phnom Penh Post - FMIS will link key Cambodian ministries and provincial treasuries to upgrade the budget, accounting and auditing process for public financial management.
Financial Management Information System (FMIS)
Ministry of Economy and Finance secretary of state Hean Sahip said that the FMIS has been "implemented within all core institutions involved in finance and budgets nationwide." In addition, the system is "connected to the National Bank of Cambodia, other partnered commercial banks, public debt management systems and non-fiscal tax revenue management systems" reports the Phnom Penh Post. The Star added that the intention of the FMIS is to link key Cambodian ministries and provincial treasuries to upgrade the budget, accounting and auditing process for public financial management. The system is also intended to clearly separate different types of taxes and duties to help streamline tax revenue collection and make payments easier for the private sector.![Cambodia launches Financial Management Information System (FMIS)](/wp-content/uploads/2020/09/Financial-Management-Information-System-FMIS-Cambodia.jpg)