Bishkek, Kyrgyz Republic, May 27, 2014—IFC,
a member of the World Bank Group, has helped organized a two-day workshop
in order to simplify tax policy in the Kyrgyz Republic, Tajikistan, and
Uzbekistan and encourage regional economic development.
Starting today in Bishkek, IFC and the Vienna University Academy of Public
Finance are hosting the event to boost the effectiveness of value-added
tax (VAT), which sometimes limits investment into key sectors such as mining
and agriculture. The workshop brings together businesspeople and officials
to learn from the experiences of each country and study global examples
of successful reform.
“Despite being a neutral and transparent tax instrument, VAT, if not properly
set up, may result in an increased compliance burden on businesses,” said
Sobirdjon Vazirov, Department Head, State Tax Committee of Tajikistan.
“Setting clear and straightforward VAT guidelines provides clarity to
businesses and helps governments retain tax revenue.”
Christopher Miller, IFC’s Central Asia Investment Climate Program Manager,
said: “Well-designed tax administration is a key element of investment
climate reform and can reduce costs for both the public and private sectors.
This is critical in attracting investment and in encouraging voluntary
compliance with tax regulations, thus encouraging businesses to join the
formal economy and widen the tax base.”
The initiative is part of IFC’s efforts to improve the investment climate
in the region by facilitating investments and reducing compliance costs
for businesses. The Central Asia Investment Climate Program is made possible
with financial support from the government of Switzerland and the United
Kingdom’s Department for International Development.
IFC, a member of the World Bank Group, is the largest global development
institution focused exclusively on the private sector. Working with private
enterprises in more than 100 countries, we use our capital, expertise,
and influence to help eliminate extreme poverty and promote shared prosperity.
In FY13, our investments climbed to an all-time high of nearly $25 billion,
leveraging the power of the private sector to create jobs and tackle the
world’s most pressing development challenges. For more information, visit
To learn more about Swiss Assistance, visit www.swiss-cooperation.admin.ch/centralasia.
To learn more about the UK’s Department for International Development,