Paraguay to strengthen tax and custom administration with IDB support
Paraguay to strengthen tax and custom administration with IDB support . ASUNCION, Paraguay – will promote the digital transformation of its tax and customs administration with a $30 million loan from the Inter-American Development Bank (IDB). This is the first loan signed by DNIT with the IDB. The program will support the National Tax Revenue Directorate (DNIT, for its Spanish acronym) to enhance the efficiency of […]
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Caribbean News Global
ASUNCION, Paraguay – will promote the digital transformation of its tax and customs administration with a $30 million loan from the Inter-American Development Bank (IDB). This is the first loan signed by DNIT with the IDB.

The program will support the National Tax Revenue Directorate (DNIT, for its Spanish acronym) to enhance the efficiency of domestic tax and customs revenue collection and improve the quality of tax and trade facilitation services. The DNT was established in 2023 to efficiently and effectively manage the internal tax and customs systems, as well as promote formalization and social inclusion.

The project will enhance processes and coordination between both areas by merging their taxpayer databases and improving tax and customs risk management. For tax administration, it will expand online taxpayer services, offer prefilled value-added tax returns for large and medium-scale taxpayers, and promote electronic invoices in foreign trade operations. In customs administration, the IDB loan will support revamping customs processes and operations, updating the country’s Customs Code and adopting digital technologies to improve operations.

This initiative will also fund the deployment of a stronger technological architecture and enhance cybersecurity, data storage, and processing capabilities. This will pave the way for implementing a robust analytics platform to improve tax compliance and reduce evasion.

It also will support the implementation of a comprehensive human talent management model and strengthen planning and management capabilities. Additionally, it will enhance employee training programs and will strengthen the Institute of Fiscal Studies (ISEF, for its Spanish acronym).

The project will benefit the government of Paraguay, its institutions, and its population, as the expected increase in revenue will enhance the availability of resources to finance public policies aimed at accelerating growth and reducing poverty and inequality. Additionally, taxpayers and businesses will benefit from improved tax and customs facilitation services.
Santa Lucía
Caribbean News And Beyond
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2024-11-05
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ASUNCION, Paraguay – will promote the digital transformation of its tax and customs administration with a $30 million loan from the Inter-American Development Bank (IDB). This is the first loan signed by DNIT with the IDB. The program will support the National Tax Revenue Directorate (DNIT, for its Spanish acronym) to enhance the efficiency of […]
The post Paraguay to strengthen tax and custom administration with IDB support appeared first on Caribbean News Global.
Paraguay to strengthen tax and custom administration with IDB support