AKIPRESS.COM - The Japan International Cooperation Agency (JICA) signed a protocol of discussion with the government of Mongolia on a technical cooperation project on tax administration capacity development using big data in Ulaanbaatar on August 15.

Mongolia has a fragile fiscal base as its economy is heavily dependent on external factors such as international resource prices. Ensuring stable budget revenues and strengthening the capacity of tax administration have become urgent issues within the country.

This project will develop a big data-driven risk analysis model to identify issues such as taxpayers at high risk of underreporting, enabling an efficient tax administration process to be implemented.

The project will help improve the efficiency of tax administration in the country by developing Mongolia's big data capabilities and improving the administrative process. It will also contribute to the achievement of the Sustainable Development Goals on decent work and economic growth, reducing inequalities and partnership to achieve the goals.