Equatorial Guinea modernises tax administration with IMF
By the AFREEQUE newsroom, based on Real Equatorial Guinea
Equatorial Guinea has launched an assistance mission by the International Monetary Fund and AFRITAC in Malabo to modernise its tax administration. The reform is to deploy the SIGREF integrated system to centralise data, improve taxpayer monitoring and increase domestic revenue, according to mission and Finance Ministry officials.
Equatorial Guinea opened a technical assistance mission by the International Monetary Fund and AFRITAC in Malabo on Monday to modernise its tax administration. The work focuses on strengthening structures, optimising procedures and integrating technologies, according to Real Equatorial Guinea.
The reform is to be based on the Integrated Tax Revenue Management System, or SIGREF, in order to centralise tax information and improve the monitoring of operations. Equatorial Guinea’s Deputy Finance Minister responsible for Taxes, José Domingo Ndong Bakale, cited the difficulty of identifying companies using several tax identification numbers and operating with non-integrated systems.
After the opening session, the director general of Taxes, Fernando Nguema Mangue, and the director of the Public Finance Modernisation Support Project, Esperanza Edjang, defined the work programme and coordination between the teams. The deputy minister presented modernisation as a means of increasing domestic revenue and strengthening transparency in tax administration.
