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    Kyrgyzstan

    Kyrgyz Tax Service receives $1.5 mn grant for new information systems

    Kyrgyz Tax Service receives $1.5 mn grant for new information systems

    Kyrgyzstan's Tax Service is poised to develop two additional systems using a grant from the Eurasian Fund for Stabilization and Development (EFSD), as ratified by the Parliament in the second and third readings. The EFSD will grant the Tax Service $1.5mn to implement a project focused on advancing an automated information system for classifying taxpayers, known as the "Taxpayer Rating," and a digital profile module for taxpayers.

    Photo: Tax
    Source: Google Images

    The digital profile will be automatically compiled by gathering and analyzing company data from various sources accessible to tax authorities, enabling companies to assess potential counterparties. This initiative is expected to enhance business transparency and improve tax administration quality, thereby boosting the overall business climate in the country.

    During their visit to Bishkek, EFSD officials met with representatives from the Ministry of Finance and the State Tax Service of the Kyrgyz Republic to discuss the current state of digital infrastructure and future modernization plans.

    The EFSD previously supported institutional tax administration reforms in Kyrgyzstan, establishing the legal framework for automating tax procedures in 2022 under a $160mn stabilization financing. The EFSD's technical assistance projects aim to facilitate institutional changes and reforms that foster economic stability and development, with funding provided on a grant basis.

    Since its inception, the EFSD allocated approximately $660mn to support Kyrgyzstan's development, including projects such as road rehabilitation, hydroelectric power plant rehabilitation, donation of ambulances, and various other initiatives aimed at improving infrastructure and public health in the country.

     

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    13.06.2024, 23:35   Comments (0)   906
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