BISHKEK, Kyrgyzstan, May 1. The Eurasian Fund for Stabilization and Development (EFSD) has initiated a project to improve efficiency of tax administration in Kyrgyzstan, Trend reports.
According to the EFSD, the organization plans to allocate $1.45 million for the implementation of the project, which involves developing an automated information system for categorizing taxpayers and creating a digital taxpayer profile module in Kyrgyzstan.
This project will facilitate the segmentation of taxpayers and enable companies to assess potential counterparts.
To note, the EFSD has previously assisted Kyrgyzstan in improving tax administration under a budget support program from 2022 to 2023.
The EFSD is a regional financial mechanism with a volume of over $9 billion, established in 2009. The objectives of the EFSD include promoting economic and financial stability in the participating states and supporting their sustainable development. Kyrgyzstan is one of the founding states of the EFSD, with the fund having allocated over $660 million for the country's development during its operations.