World Bank issues Tajikistan $18 mln for tax system reform
DUSHANBE. March 4 (Interfax) - The World Bank has extended Tajikistan a grant of $18 million for reforms aimed at improving the efficiency of the republic's taxation system, the bank's offices in Tajikistan said.
The World Bank thinks the project will help to improve the system for state budget management and the entrepreneurial environment.
At issue is the creation of a more transparent, accountable, fair, and effective tax system that will be to the advantage of local enterprises and taxpayers, World Bank representative Marsha Olive is cited as saying. This will, she said, help in the carrying out of the most important task - improving the efficiency of the state sector and the creation of a more reliable environment for private investments in the Tajik economy, she said.
Tajikistan became a full-fledged member of the World Trade Organization on March 2 this year. It has adopted a new Tax Code that lowers rates on a majority of taxes, and their number contracted from twenty-one to ten. The reform of the tax system is connected with improving tax administration and increasing tax collections for the country's budget.
During the reforms, the plan is to improve the efficiency and level of tax collection, minimize tax administration costs, and streamline the services provided to taxpayers.
