Kyrgyzstan, IDA ratify agreement on funding project to modernize tax administration

Bishkek, July 2, 2020. /Kabar/. Kyrgyz President Sooronbay Jeenbekov signed Thursday a Law of the Kyrgyz Republic "On Ratification of the Agreement between the Kyrgyz Republic and the International Development Association on Funding (Project on modernization of tax administration and statistical system), signed on Apr. 28, 2020 in Bishkek", his press service reported. The Law was adopted by the Kygryz Parliament on June 4, 2020. In accordance with it, the Ministry of Finance of the Kyrgyz Republic should notify the International Development Association (IDA) on the implementation by Kyrgyzstan of domestic procedures necessary for the entry into force of the above Agreement. The Law comes into force after ten days from the date of official publication. The purpose of the Project is to improve the efficiency of tax collection and modernization of the national statistical system in order to effectively measure the country's economic and social development. The total value of the Project is USD 35 million. The executive bodies are the State Tax Service under the Government of the Kyrgyz Republic and the National Statistics Committee.