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    Economics Business Kyrgyzstan

    Kyrgyzstan secures $1.5 mn from EFSD to boost tax administration

    Kyrgyzstan secures $1.5 mn from EFSD to boost tax administration

    Kyrgyzstan was granted $1.5 mn by the Eurasian Fund for Stabilization and Development (EFSD) to enhance its tax administration. The project, named "Development of a Computerized Information System for Taxpayers’ Classification and a Digital Taxpayer Profile," is designed to modernize tax processes in the country.

    Photo: AI
    Source: Yandex

    The funding will be used to develop a new computer system that classifies and ranks taxpayers using advanced data analysis techniques. The system will sort taxpayers by various criteria, making it easier for tax authorities to manage them. Additionally, the project will create digital profiles for taxpayers, automatically generated by analyzing data from multiple sources.

    The new system is expected to make business operations more transparent and improve the quality of tax services in Kyrgyzstan. Companies will be able to use the digital profiles to check the reliability of potential business partners. This is aimed at improving the business environment in the country by making it easier and safer for companies to engage with each other.

    Representatives from the EFSD recently met with Kyrgyzstan’s Ministry of Finance and State Tax Service in Bishkek. They discussed the digital infrastructure and plans to further modernize it in the coming years. This project is part of broader efforts to reform and enhance tax administration in Kyrgyzstan, following a legal framework established in 2022 supported by $160 mn in stabilization funding from the EFSD.

     

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    30.04.2024, 09:00   Comments (0)   708
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