A $50 million loan will contribute to greater fiscal sustainability with better service provision, lower costs for tax compliance and data for public management and transparency of public accounts
Brazil will contribute to the fiscal management of the State of Paraná through its modernization, the improvement of the tax administration and the control of public spending with a $50 million loan approved by the Inter-American Development Bank (IDB).
The program aims to improve management instruments, modernize the technological infrastructure and increase the transparency of fiscal management with society, enhancing the institutional performance of the State Secretariat of Finance of the State of Paraná (SEFA/PR), the Attorney General's Office of the State of Paraná (PGE/PR) and the Secretary of Planning of the State of Paraná (SEPL/PR).
It seeks to increase the efficiency of tax collection, as well as income, simplify tax compliance through financing and create a system of managing tax benefits. The program will include a “Single Cadastre” system of the taxpayers of the SEFA/PR with the integration of the data on the Tax on the Movement of Goods and Services, and the Tax on Property of Motor Vehicles and rural producers and REDESIM companies , among others.
Likewise, it will contribute to the financial administration in its fiscal discipline and to increase the efficiency and effectiveness of public spending through better management of public service costs, public debt and results-oriented budget planning. The integration with the accounting system of the Mobile Heritage Management System and the Real Estate Management System will also be established.
The beneficiaries will be the citizens, businesses and taxpayers and entities of the public and non-governmental sector, who will obtain a better provision of services, facilities and lower costs for tax compliance, and greater availability of information and data for public management and the transparency of the public accounts achieving greater fiscal sustainability of the State.
The IDB loan of $50 million has a repayment term of 25 years, a grace period of five and a half years, an interest rate based on LIBOR, and has a local counterpart of $5 million.
The Inter-American Development Bank is devoted to improving lives. Established in 1959, the IDB is a leading source of long-term financing for economic, social and institutional development in Latin America and the Caribbean. The IDB also conducts cutting-edge research and provides policy advice, technical assistance and training to public and private sector clients throughout the region.