Deputy Minister of Finance and Economy of Turkmenistan Babaniyaz Yalakov took part in the ‘Tax and Development’ meeting organised as part of the ‘Platform for Collaboration on Tax’ initiative. The event was held on 2-3 March in Tokyo, according to the press service of the Ministry of Foreign Affairs of Turkmenistan.

The above-mentioned initiative was created by the World Bank, the International Monetary Fund, the Organisation for Economic Co-operation and Development and the United Nations.

The event was attended by representatives of international financial organisations, heads of financial and tax authorities from various countries, as well as experts.

Participants discussed improving tax policy, increasing the efficiency of tax systems, and developing international cooperation to support economic growth. Particular attention was paid to strengthening tax administration in developing countries, the use of digital technologies, and increasing the transparency of the economy.

Following the meeting, proposals were put forward to expand information exchange and develop international cooperation in the tax sphere. Participants emphasised that such meetings contribute to the financial stability of states and stimulate economic development.