The International Finance Corporation(IFC), a member of the World Bank Group, is the largestglobal development institute focused on supporting theprivate sector in emerging economies. Through its work withmore than 2,000 companies worldwide, IFC mobilizes capital,expertise, and influence to create markets and opportunitiesfor developing countries. The objective of the IFC CentralAsia Tax Project is to improve compliance with mandatoryrequirements of tax legislation through increasedtransparency and simplification of tax administrationprocedures. Simplification of tax accounting procedures willreduce costs of tax compliance, lessen the administrativeburden on small and medium businesses, reduce barriers toentry into the formal economy, and serve as a driver foreconomic growth in the Kyrgyz Republic. The key element ofreforms is an immediate assessment of their efficiency andpossibility for adjustments based on assessment results.With this view, IFC, through its technical assistance taxreforms projects, has conducted a series of studies, whichhelp monitor the tax system reforming processes in theKyrgyz Republic. The main goal of the studies was a periodicassessment of time and costs to taxpayers in the KyrgyzRepublic in complying with the mandatory requirements of thetax legislation. Equitable intervals of measurements allowedan immediate assessment of the impact of implemented taxreforms on the cost of taxpayers to comply with taxlegislation. In addition, actual data on the tax systemstatus helped elaborate concise recommendations for theGovernment with the focus on elimination of identifiedissues and reduction of the tax administration costs tobusinesses. This report outlines the results of all threerounds of business environment surveys in the area of taxregulation; it includes the estimates of tax accountingcosts of taxpayers in the Kyrgyz Republic in 2012, 2014, and 2016.
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