PROJECT

Projects

Summary of Advisory Services Project Information

Project Number

596607

Primary Business Area

Investment Climate

Disclosure Date

Feb 28, 2013

Country

Country Name Pending

Region

East Asia and the Pacific

IFC Approval Date

Nov 30, 2012

Status

Completed

Estimated Total Budget

$1,870,762.00
(Project budget includes all project-funded activities)

Last Updated Date

Sep 30, 2022

Project Estimated End Date

Dec 31, 2015

Project Description

The project will support the revision of several key laws and regulations on tax policies and administration. Specifically, the project's key activities include:
- Support the introduction of a Value Added Tax (VAT) threshold and simplification measures for small and medium businesses above and below the VAT threshold to reduce administrative costs and compliance burdens.
- Support the improvement of a Risk Based Audit (RBA) system to assist the tax authority in targeting non-compliant businesses and saving administration costs, while removing discretionary audits for compliant businesses.
- Simplify accounting and book-keeping requirements to match the capacity of micro and small businesses.
- Conduct outreach activities to ensure buy-in from all key stakeholders on the adoption and implementation of reforms.
- Work with central and local tax authorities to develop training, guidance and other services for small taxpayers.

Development Results