The government approved and submitted to the Parliament for ratification two amendments, one to the Financing Agreement with the International Development Association (IDA) and another to the Loan Agreement with the International Bank for Reconstruction and Development (IBRD), both institutions of the World Bank group. The amendments refer to the Tax Administration Modernization Project (TAMP), IPN reports.

The project provides for the reduction of fiscal administration costs, the emphasis being placed on taxpayer’s voluntary compliance, the improvement of services provided to them, the fight against corruption and the prevention of tax frauds.

The project has been implemented since 2017, and the approved amendments provide a new way of financing activities, based on the obtained results.

The total cost of the project is $ 20 million and it will remain unchanged. The results based financing will include 2.2 million special drawing rights or the equivalent of 3 million US dollars.

The term of the project was extended by two years, until 2023.

The financing agreement with IDA provides for the contracting of 5.3 million special drawing rights, the equivalent of 7.5 million US dollars, and according to the Loan Agreement, the IBRD will provide 12.58 million US dollars.