USAID Press Release: USAID and US Treasury Sign an MOU with the Serbian Ministry of Finance

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USAID and US Treasury Sign an MOU with the Serbian Ministry of Finance in Support of Fiscal Reform

U.S. AGENCY FOR INTERNATIONAL DEVELOPMENT
PRESS RELEASE

WASHINGTON, DC 20523
PRESS OFFICE
http://www.usaid.gov
(202) 712-4320

FOR IMMEDIATE RELEASE
July 25, 2002

Contact: USAID Press Office

On Thursday, July 25, 14:30 - 15:30, at Serbian Government Press Room, Nemanjina 11, U.S. Ambassador William Montgomery, USAID Mission Director James Stephenson, and U.S. Treasury Director George Edwin Smith will sign a Memorandum of Understanding with Serbian Minister of Finance Božidar Đelic for a three-year $10 million package of technical assistance focused on Tax Policy and Administrative Reform. The project will be attached to the Ministry of Finance and Economy (MOFE) and to the Public Receivables Agency (PRA).

Left to right: George Smith, Spike Stephenson, Ambassador Montgomery and Minister Delic sign MOU kicking-off $10 million package for Tax Reform.

The joint USAID and U.S. Treasury team will provide technical and other assistance to the Ministry of Finance and to the Public Revenue Agency in tax policy and administrative reform . The project's goal is to further fiscal reform by enabling the MOF/PRA to formulate and implement a sound tax system. This activity, while focused on the PRA, will necessarily be closely coordinated with other government efforts to restructure Serbia's financial system.

Assistance to the PRA in tax administrative reform will ensure that activities related to the control, determination and collection of public revenues are performed in accordance with all laws and regulations. Improvements in fiscal capacity will enhance and encourage Serbia's transition to a market economy and will support the growth of the private sector that will create jobs and prosperity. Enhanced tax administration also adds much-needed transparency to revenue collection, thus greatly supporting Serbia's efforts to combat corruption, the gray economy and financial crime.

Project tasks will be overseen and implemented jointly by USAID and US Treasury. USAID will provide logistic and operational guidance, with Treasury providing policy and technical oversight.

USAID is the government agency providing U.S. economic and humanitarian assistance worldwide for more than 40 years.

Last Updated on: December 30, 2008