The EFSD and Kyrgyzstan launch a project to improve tax administration efficiency
Bishkek, 29 April 2024. A mission for a new technical assistance project of the Eurasian Fund for Stabilization and Development (EFSD) has concluded in Bishkek. The project’s goal is to create a legal entity taxpayer profile to facilitate business processes and improve Kyrgyzstan's tax administration system.
The EFSD plans to grant US $1.45 million for implementation of the project called “Development of a computerised information system for taxpayers’ classification “Taxpayer’s Ranking” and a module of taxpayer’s digital profile in the Kyrgyz Republic”.
The project implies development and implementation of a computerised information system for taxpayers’ classification and ranking using statistical and mathematical models, as well as development of a taxpayer digital profile module. The profile will be compiled automatically by collecting and analysing company data from various sources available to tax authorities.
It is expected that thanks to this, among other things, companies will be able to evaluate potential counterparties. Thus, in addition to increasing the transparency of doing business and the quality of tax administration, the project will improve the general business climate in the country.
During their visit to Bishkek, the EFSD staff held meetings with representatives of the Ministry of Finance and the State Tax Service of the Kyrgyz Republic and discussed the state of the digital infrastructure and plans for its modernisation in the upcoming years.
The EFSD has previously supported institutional reforms in tax administration in the Kyrgyz Republic. The legal framework for the above-mentioned automation of tax procedures was created in 2022, under US $160 million stabilisation financing.
The EFSD technical assistance projects are implemented for institutional changes and reforms in the countries aimed at achieving economic stability and further development. Funds for these purposes are provided on a grant basis.
The Kyrgyz Republic is a founding state of the EFSD. Since its inception, the Fund has allocated approximately US $660 million in funding for the country’s development. The projects include rehabilitation of the Bishkek-Osh road, Toktogul HPP rehabilitation, commissioning of the second hydro generation unit of Kambarata HPP-2, donation of more than 100 ambulances, improvement of water supply and sanitation in rural areas of the Osh region, grant programme for disease prevention in hard-to-reach areas “Caravan of Health”, financing of agricultural machinery supplies, stabilisation financing and reforms support.
The Eurasian Fund for Stabilization and Development (EFSD) is a regional financial arrangement totalling US $9 billion, established in 2009 by the Republic of Armenia, the Republic of Belarus, the Republic of Kazakhstan, the Kyrgyz Republic, the Russian Federation, and the Republic of Tajikistan. The EFSD aims to promote economic and financial stability in its member states and support their sustainable development.
The EFSD Press Service:
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