TohidA/MONA · Datasets at Hugging Face

575

CENTRAL AFRICAN REPUBLIC

626

PRGF

2006-12-22

2,006

2009-12-21

2,009

N/A

2008-12-22

P1

R3

BLANK

SPC

20.7

1.7. Fiscal transparency (publication, parliamentary oversight)

Begin an external audit of all the sources of government revenue (collected through ministries and agencies) during the period July-2005 to end-December 2006, to help ensure that all revenue has been dutifully reported to the state treasury, and to help clarify where reporting can be strengthened.

2

09/30/2007

M

N/A

3

2

2007-09-30

N/A

575

CENTRAL AFRICAN REPUBLIC

626

PRGF

2006-12-22

2,006

2009-12-21

2,009

N/A

2008-12-22

P1

R3

BLANK

SPC

30.1

11.1. Private sector legal and regulatory environment reform (non financial sector)

Continue applying automatic quarterly petroleum product pricing formula.

1

12/31/2007

WMOD-PA

At P1R2, price adjustment formula to ensure recovery of all costs and taxes was delayed while the authorities considered measures to mitigate the social impact. Upgraded to a pa for the second review, and implemented June 1, 2008. At P1R2, descriptor changed from "Implement a new petroleum product pricing formula with parameters set to ensure full recovery of all costs, distribution margins, and taxes, and that avoids the need for further budget subsidies" to current spc, and retaining "continuous" test date.

3

1

2007-12-31

N/A

575

CENTRAL AFRICAN REPUBLIC

626

PRGF

2006-12-22

2,006

2009-12-21

2,009

N/A

2008-12-22

P1

R3

BLANK

SPC

30.1

11.1. Private sector legal and regulatory environment reform (non financial sector)

Continue applying automatic quarterly petroleum product pricing formula.

1

10/31/2008

W

At R3, waiver granted, as not implemented in October 2008 due to the decline in international prices. Excise levels in December 2008 are higher than originally targeted by the program.

3

1

2008-10-31

N/A

575

CENTRAL AFRICAN REPUBLIC

626

PRGF

2006-12-22

2,006

2009-12-21

2,009

N/A

2008-12-22

P1

R3

BLANK

SPC

30.1

11.1. Private sector legal and regulatory environment reform (non financial sector)

Continue applying automatic quarterly petroleum product pricing formula.

1

Continuous

PC

P1R2 macroeconomic rationale: Protect the budget from risks of fluctuating petroleum prices; creating room for well-targeted measures to mitigate the social impact of petroleum price changes.

3

1

2023-09-23

N/A

575

CENTRAL AFRICAN REPUBLIC

626

PRGF

2006-12-22

2,006

2009-12-21

2,009

2010-06-30

N/A

2009-06-29

P1

R4

BLANK

PA

20.2

1.2. Revenue administration, including customs

Revoke contract with Unitec Benin and staff the "Guichet Unique" in Douala with customs personnel.

1

Second Review Prior action

M

P1R2 macroeconomic rationale: Enhance revenue generation potential by removing ineffective and expensive operator.

4

1

2023-09-23

N/A

575

CENTRAL AFRICAN REPUBLIC

626

PRGF

2006-12-22

2,006

2009-12-21

2,009

2010-06-30

N/A

2009-06-29

P1

R4

BLANK

PA

20.4

1.4. Combined expenditure and revenue measures

Implement an automatic petroleum product pricing formula that ensures full pass-through to the consumer of all costs, distribution margins, VAT at the regular rate for gasoline and diesel, and a specific excise by product. The formula includes a timetable for petroleum taxation.

1

Second Review Prior action

M

At P1R2, this former spc was waived, upgraded to a pa, and implemented June 1, 2008. Macroeconomic rationale: Protect the budget from risks of fluctuating petroleum prices; creating room for well-targeted measures to mitigate the social impact of petroleum price changes.

4

1

2023-09-23

N/A

575

CENTRAL AFRICAN REPUBLIC

626

PRGF

2006-12-22

2,006

2009-12-21

2,009

2010-06-30

N/A

2009-06-29

P1

R4

BLANK

PA

20.6

1.6. Expenditure auditing, accounting, and financial controls

The issuance of an international competitive tender to undertake an external audit for the validation of domestic payments arrears, which accrued during the period 1998-2004.

1

Program Prior Action

M

N/A

4

1

2023-09-23

N/A

575

CENTRAL AFRICAN REPUBLIC

626

PRGF

2006-12-22

2,006

2009-12-21

2,009

2010-06-30

N/A

2009-06-29

P1

R4

BLANK

PA

20.8

1.8. Budget preparation (e.g., submission or approval)

Submit to parliament a draft budget for 2009 in line with the program's macroeconomic parameters. Budget to include previously extrabudgetary revenues, full provision of government consumption of utility services, reversal of VAT reductions for cement and galvanized sheets, full deductibility of VAT payments; and elimination of VAT withholding.

1

Third Review Prior action

M

R3 macroeconomic rationale: maintain macroeconomic stability and improve transparency and usefulness of the budget as a tool for macroeconomic management.

4

1

2023-09-23

N/A

575

CENTRAL AFRICAN REPUBLIC

626

PRGF

2006-12-22

2,006

2009-12-21

2,009

2010-06-30

N/A

2009-06-29

P1

R4

BLANK

SB

20.1

1.1. Revenue measures, excluding trade policy

Continue applying the automatic quarterly petroleum product pricing formula that ensures full pass-through to the consumer of all costs, distribution margins, VAT, and a specific excise by product. The formula includes a timetable for petroleum taxation.

2

Continuous

SB

Protect the budget from risks of fluctuating petroleum prices; create room for well-targeted measures to mitigate the social impact of petroleum price changes. Previously a PC. At R4, this is changed to a structural benchmark with continuous test dates.

4

2

2023-09-23

N/A

575

CENTRAL AFRICAN REPUBLIC

626

PRGF

2006-12-22

2,006

2009-12-21

2,009

2010-06-30

N/A

2009-06-29

P1

R4

BLANK

SB

20.1

1.1. Revenue measures, excluding trade policy

Reduce customs exemptions with the aim of eliminating discretionary exemptions and statutory exemptions with limited economic rationale.

3

12/31/2009

SB

Enhance revenue-generation potential.

4

3

2009-12-31

N/A

575

CENTRAL AFRICAN REPUBLIC

626

PRGF

2006-12-22

2,006

2009-12-21

2,009

2010-06-30

N/A

2009-06-29

P1

R4

BLANK

SB

20.2

1.2. Revenue administration, including customs

Use turnover as the sole criterion for taxpayer classification with a turnover of CFAF 30 million as the minimum threshold for large taxpayers, VAT registration, and the standard tax system.

1

12/31/2008

MD

P1R2 macroeconomic rationale: Enhance revenue generation potential by focusing on large taxpayers and streamline the structure of VAT, the largest revenue source. At R3, upon advice by a recent AFRITAC TA mission, the turnover threshold was changed to CFAF 30 million (from 50 million) to ensure a sufficiently large number of taxpayers for the LTO. At R4, implemented in April 2009 to consult with FAD/AFRITAC experts on implementation. Minor legal amendment to be introduced with revised 2009 budget.

4

1

2008-12-31

N/A

575

CENTRAL AFRICAN REPUBLIC

626

PRGF

2006-12-22

2,006

2009-12-21

2,009

2010-06-30

N/A

2009-06-29

P1

R4

BLANK

SB

20.2

1.2. Revenue administration, including customs

Increase the number of audits in 2008 to cover (i) at least 30 percent of large and medium-sized taxpayers per year; (ii) all stop-filers; and (iii) all filers with VAT credit claims or zero balance returns.

2

12/31/2008

PM

P1R2 macroeconomic rationale: Enhance revenue generation potential by reducing scope for tax evasion. At R4, met for items (i) and (ii). Met with delay for item (iii), which was implemented in February 2009, when the few remaining VAT audits were completed.

4

2

2008-12-31

N/A

575

CENTRAL AFRICAN REPUBLIC

626

PRGF

2006-12-22

2,006

2009-12-21

2,009

2010-06-30

N/A

2009-06-29

P1

R4

BLANK

SB

20.2

1.2. Revenue administration, including customs

Interconnect the tax administration's SYSTEMIF and customs administration's ASYCUDA++ computer systems.

3

06/30/2009

SB

R3 macroeconomic rationale: Enhance revenue generation potential by reducing the scope for tax evasion.

4

3

2009-06-30

N/A

575

CENTRAL AFRICAN REPUBLIC

626

PRGF

2006-12-22

2,006

2009-12-21

2,009

2010-06-30

N/A

2009-06-29

P1

R4

BLANK

SB

20.5

1.5. Debt Management

Revise the 1988 law and decree on government guarantees, to strengthen the authorities' legal framework for issuing government guarantees by requiring that the recipient pays a fee for any guarantee. Clarify that all domestic and external guarantees need to be signed by the Minister of Finance and recorded in the debt statistics.

1

06/30/2009

MOD-DATE

R3 macroeconomic rationale: Limit contingent liabilities for the budget and provide better incentives for public or private enterprises. At R4, the test date was delayed to end-September 2009.

4

1

2009-06-30

N/A

575

CENTRAL AFRICAN REPUBLIC

626

PRGF

2006-12-22

2,006

2009-12-21

2,009

2010-06-30

N/A

2009-06-29

P1

R4

BLANK

SB

20.5

1.5. Debt Management

Revise the 1988 law and decree on government guarantees, to strengthen the authorities' legal framework for issuing government guarantees by requiring that the recipient pays a fee for any guarantee. Clarify that all domestic and external guarantees need to be signed by the Minister of Finance and recorded in the debt statistics.

1

09/30/2009

SB

At R4, new test date of end-September 2009.

4

1

2009-09-30

N/A

575

CENTRAL AFRICAN REPUBLIC

626

PRGF

2006-12-22

2,006

2009-12-21

2,009

2010-06-30

N/A

2009-06-29

P1

R4

BLANK

SB

20.5

1.5. Debt Management

Fully computerize the debt management unit and enable it to provide debt service projections for various scenarios.

3

12/31/2008

MD

P1R2 macroeconomic rationale: Increase reliability of debt forecasts and develop ability to take early corrective actions to maintain medium-term debt sustainability. At R4, met for computerization; not met for ability to run scenarios, which was implemented in February. A debt statistics bulletin is about to be published.

4

3

2008-12-31

N/A

575

CENTRAL AFRICAN REPUBLIC

626

PRGF

2006-12-22

2,006

2009-12-21

2,009

2010-06-30

N/A

2009-06-29

P1

R4

BLANK

SB

20.5

1.5. Debt Management

Integrate all domestic arrears from previous years in the computerized debt database of the debt department.

5

12/31/2009

SB

Enhance capacity to manage domestic debt.

4

5

2009-12-31

N/A

575

CENTRAL AFRICAN REPUBLIC

626

PRGF

2006-12-22

2,006

2009-12-21

2,009

2010-06-30

N/A

2009-06-29

P1

R4

BLANK

SB

20.6

1.6. Expenditure auditing, accounting, and financial controls

Implement a treasury single account

1

12/31/2008

MOD-DATE

P1R2 macroeconomic rationale: Reduce financing costs for the government and increase transparency of government operations. At R3, rescheduled to end-June 2009 due to additional time needed for preparation.

4

1

2008-12-31

N/A

575

CENTRAL AFRICAN REPUBLIC

626

PRGF

2006-12-22

2,006

2009-12-21

2,009

2010-06-30

N/A

2009-06-29

P1

R4

BLANK

SB

20.6

1.6. Expenditure auditing, accounting, and financial controls

Implement a treasury single account

1

06/30/2009

MOD-DATE

At R4, the test date was delayed to end-September 2009.

4

1

2009-06-30

N/A

575

CENTRAL AFRICAN REPUBLIC

626

PRGF

2006-12-22

2,006

2009-12-21

2,009

2010-06-30

N/A

2009-06-29

P1

R4

BLANK

SB

20.6

1.6. Expenditure auditing, accounting, and financial controls

Implement a treasury single account

1

09/30/2009

SB

At R4, new test date of end-September 2009.

4

1

2009-09-30

N/A

575

CENTRAL AFRICAN REPUBLIC

626

PRGF

2006-12-22

2,006

2009-12-21

2,009

2010-06-30

N/A

2009-06-29

P1

R4

BLANK

SB

20.6

1.6. Expenditure auditing, accounting, and financial controls

Set up a liquidity committee including BEAC members to review monthly, weekly, and daily cash flow and expenditure commitment forecasts and assess liquidity needs.

2

06/30/2008

MD

P1R2 macroeconomic rationale: Reduce financing costs for the government and align government commitments with available resources to avoid arrears.

4

2

2008-06-30

N/A

575

CENTRAL AFRICAN REPUBLIC

626

PRGF

2006-12-22

2,006

2009-12-21

2,009

2010-06-30

N/A

2009-06-29

P1

R4

BLANK

SB

20.6

1.6. Expenditure auditing, accounting, and financial controls

Finalize the implementation of the government financial management system by fully applying Gesco to all stages of the expenditure process from commitment to payment.

3

12/31/2009

SB

Improve fiscal control and avoid arrears.

4

3

2009-12-31

N/A

575

CENTRAL AFRICAN REPUBLIC

626

PRGF

2006-12-22

2,006

2009-12-21

2,009

2010-06-30

N/A

2009-06-29

P1

R4

BLANK

SB

25.1

6.1. Financial sector legal reforms, regulation, and supervision

Revise conventions with commercial banks to ensure that they no longer have control over government money. Thus, all government receipts will be deposited in teh main treasury account at the central bank (BEAC).

2

06/30/2009

SB

R3 macroeconomic rationale: Re-establish government control over its finaces and increase the transparency of government operations.

4

2

2009-06-30

N/A

575

CENTRAL AFRICAN REPUBLIC

626

PRGF

2006-12-22

2,006

2009-12-21

2,009

2010-06-30

N/A

2009-06-29

P1

R4

BLANK

SB

25.2

6.2. Restructuring and privatization of financial institutions

The government will refrain from providing resources to recapitalize the troubled commercial bank.

1

06/30/2007

M

Met for P1R1.

4

1

2007-06-30

N/A

575

CENTRAL AFRICAN REPUBLIC

626

PRGF

2006-12-22

2,006

2009-12-21

2,009

2010-06-30

N/A

2009-06-29

P1

R4

BLANK

SB

25.2

6.2. Restructuring and privatization of financial institutions

The government will refrain from providing resources to recapitalize the troubled commercial bank.

1

Continuous

CAN

At P1R1, as the recapitalization of the troubled bank was completed by a foreign investor, this benchmark was no longer relevant, and removed from the program. Although this sb appears in EBS/08/63, for the second review, desk reported that "it was a mistake, and the benchmark should have been removed from the 2nd review paper."

4

1

2023-09-23

N/A

575

CENTRAL AFRICAN REPUBLIC

626

PRGF

2006-12-22

2,006

2009-12-21

2,009

2010-06-30

N/A

2009-06-29

P1

R4

BLANK

SB

30.1

11.1. Private sector legal and regulatory environment reform (non financial sector)

Increase tariffs for water by 5 percent and for electricity by 5 percent for the upper tranches of consumption

1

06/30/2008

NM

P1R2 macroeconomic rationale: Reduce quasi-fiscal losses of state-owned enterprises that are critical for CAR's growth, and protect the budget.

4

1

2008-06-30

N/A

575

CENTRAL AFRICAN REPUBLIC

626

PRGF

2006-12-22

2,006

2009-12-21

2,009

2010-06-30

N/A

2009-06-29

P1

R4

BLANK

SB

30.1

11.1. Private sector legal and regulatory environment reform (non financial sector)

Reform commercial laws and civil procedures relating to debt collection and bankruptcy in line with the recommendations in the regional Financial Stability Assessment Program completed in June 2006.

2

12/31/2007

NM

At P1R2, not met, as was delayed by capacity limitations. Will be implemented as part of the authorities' agenda to apply the OHADA law.

4

2

2007-12-31

N/A

575

CENTRAL AFRICAN REPUBLIC

626

PRGF

2006-12-22

2,006

2009-12-21

2,009

2010-06-30

N/A

2009-06-29

P1

R4

BLANK

SB

30.1

11.1. Private sector legal and regulatory environment reform (non financial sector)

For reputable taxpayers that demand VAT refund requests, pay 50 percent of refund request within 30 days, and the remainder after 90 days unless verification shows lower payment is warranted.

3

12/31/2009

SB

Make exports more competitive by allowing zero rating of VAT liabilities in line with international best practice.

4

3

2009-12-31

N/A

575

CENTRAL AFRICAN REPUBLIC

626

PRGF

2006-12-22

2,006

2009-12-21

2,009

2010-06-30

N/A

2009-06-29

P1

R4

BLANK

SPC

20.1

1.1. Revenue measures, excluding trade policy

Continue applying automatic quarterly petroleum product pricing formula.

1

12/31/2007

WMOD-PA

At P1R2, price adjustment formula to ensure recovery of all costs and taxes was delayed while the authorities considered measures to mitigate the social impact. Upgraded to a pa for the second review, and implemented June 1, 2008. At P1R2, descriptor changed from "Implement a new petroleum product pricing formula with parameters set to ensure full recovery of all costs, distribution margins, and taxes, and that avoids the need for further budget subsidies" to current spc, and retaining "continuous" test date.

4

1

2007-12-31

N/A

575

CENTRAL AFRICAN REPUBLIC

626

PRGF

2006-12-22

2,006

2009-12-21

2,009

2010-06-30

N/A

2009-06-29

P1

R4

BLANK

SPC

20.1

1.1. Revenue measures, excluding trade policy

Continue applying automatic quarterly petroleum product pricing formula.

1

10/31/2008

W

At R3, waiver granted, as not implemented in October 2008 due to the decline in international prices. Excise levels in December 2008 are higher than originally targeted by the program.

4

1

2008-10-31

N/A

575

CENTRAL AFRICAN REPUBLIC

626

PRGF

2006-12-22

2,006

2009-12-21

2,009

2010-06-30

N/A

2009-06-29

P1

R4

BLANK

SPC

20.1

1.1. Revenue measures, excluding trade policy

Continue applying automatic quarterly petroleum product pricing formula.

1

04/30/2009

M

This performance criterion was met for January and April 2009.

4

1

2009-04-30

N/A

575

CENTRAL AFRICAN REPUBLIC

626

PRGF

2006-12-22

2,006

2009-12-21

2,009

2010-06-30

N/A

2009-06-29

P1

R4

BLANK

SPC

20.1

1.1. Revenue measures, excluding trade policy

Continue applying automatic quarterly petroleum product pricing formula.

1

Continuous

WMOD-SB

P1R2 macroeconomic rationale: Protect the budget from risks of fluctuating petroleum prices; creating room for well-targeted measures to mitigate the social impact of petroleum price changes. At R4, this continuous PC is changed to a continuous benchmark.

4

1

2023-09-23

N/A

575

CENTRAL AFRICAN REPUBLIC

626

PRGF

2006-12-22

2,006

2009-12-21

2,009

2010-06-30

N/A

2009-06-29

P1

R4

BLANK

SPC

20.2

1.2. Revenue administration, including customs

Reduce the stock tax arrears by at least CFAF 1 billion, net of uncollectible tax arrears.

2

12/31/2007

W

At P1R2, reduction of tax arrears was not met. Several state-owned enterprises (SOEs) ran large quasi-fiscal deficits, as a result of which the SOEs were unable to pay taxes.

4

2

2007-12-31

N/A

575

CENTRAL AFRICAN REPUBLIC

626

PRGF

2006-12-22

2,006

2009-12-21

2,009

2010-06-30

N/A

2009-06-29

P1

R4

BLANK

SPC

20.2

1.2. Revenue administration, including customs

Complete the external audit of the operations of the one-stop customs window in Douala (Guichet Unique).

3

02/28/2007

W

At P1R1, implemented with a slight delay caused by donor coordination problems, which led the government to finance the audit itself to avoid another slippage.

4

3

2007-02-28

N/A

575

CENTRAL AFRICAN REPUBLIC

626

PRGF

2006-12-22

2,006

2009-12-21

2,009

2010-06-30

N/A

2009-06-29

P1

R4

BLANK

SPC

20.2

1.2. Revenue administration, including customs

Restructure (in consultation with Fund staff) the customs administration activities under a single entity, which will report to the Minister of Finance.

4

03/31/2007

M

N/A

4

2007-03-31

N/A

575

CENTRAL AFRICAN REPUBLIC

626

PRGF

2006-12-22

2,006

2009-12-21

2,009

2010-06-30

N/A

2009-06-29

P1

R4

BLANK

SPC

20.3

1.3. Expenditure measures, including arrears clearance

Set up and publish a plan to repay domestic arrears

1

09/30/2008

W

P1R2 macroeconomic rationale: Re-establish credibility of the government with respect to the public; reduce debt overhang. At R3, waiver granted, implemented with delay in December 2008.

4

1

2008-09-30

N/A

575

CENTRAL AFRICAN REPUBLIC

626

PRGF

2006-12-22

2,006

2009-12-21

2,009

2010-06-30

N/A

2009-06-29

P1

R4

BLANK

SPC

20.3

1.3. Expenditure measures, including arrears clearance

Eliminate the stock of treasury checks issued in 2005-06 and eliminate the issuance of non-cash backed treasury checks. The government will publicly announce that such treasury checks will no longer be valid after end-September 2007.

2

06/30/2007

M

N/A

4

2

2007-06-30

N/A

575

CENTRAL AFRICAN REPUBLIC

626

PRGF

2006-12-22

2,006

2009-12-21

2,009

2010-06-30

N/A

2009-06-29

P1

R4

BLANK

SPC

20.3

1.3. Expenditure measures, including arrears clearance

Complete the external audit for the validation of the domestic payments arrears, which accrued during the period 1998-2004.

3

06/30/2007

W

At P1R1, met with a slight delay due to limited understanding of some donor procurement procedures.

4

3

2007-06-30

N/A

575

CENTRAL AFRICAN REPUBLIC

626

PRGF

2006-12-22

2,006

2009-12-21

2,009

2010-06-30

N/A

2009-06-29

P1

R4

BLANK

SPC

20.7

1.7. Fiscal transparency (publication, parliamentary oversight)

Implement a formal procedure to audit and report on a quarterly basis all sources of revenue (tax and non-tax, including those for fees, licenses, and permits in the natural resource sector) accruing to the State. The audits should be carried out by the Inspector General of Finance who will be given access to all relevant information to conduct the audits, and submitted to the Court of Accounts for verification and publication, no later than 2 months after the end of each quarter. The first of such audits should be published by May 2007.

1

03/31/2007

M

N/A

4

1

2007-03-31

N/A

575

CENTRAL AFRICAN REPUBLIC

626

PRGF

2006-12-22

2,006

2009-12-21

2,009

2010-06-30

N/A

2009-06-29

P1

R4

BLANK

SPC

20.7

1.7. Fiscal transparency (publication, parliamentary oversight)

Begin an external audit of all the sources of government revenue (collected through ministries and agencies) during the period July-2005 to end-December 2006, to help ensure that all revenue has been dutifully reported to the state treasury, and to help clarify where reporting can be strengthened.

2

09/30/2007

M

N/A

4

2

2007-09-30

N/A

575

CENTRAL AFRICAN REPUBLIC

626

PRGF

2006-12-22

2,006

2009-12-21

2,009

2010-06-30

N/A

2009-12-04

P1

R5

BLANK

PA

20.2

1.2. Revenue administration, including customs

Revoke contract with Unitec Benin and staff the "Guichet Unique" in Douala with customs personnel.

1

Second Review Prior action

M

P1R2 macroeconomic rationale: Enhance revenue generation potential by removing ineffective and expensive operator.

5

1

2023-09-23

N/A

575

CENTRAL AFRICAN REPUBLIC

626

PRGF

2006-12-22

2,006

2009-12-21

2,009

2010-06-30

N/A

2009-12-04

P1

R5

BLANK

PA

20.3

1.3. Expenditure measures, including arrears clearance

Pay all government utility bills from ENERCA, SODECA, and SOCATEL received from the beginning of November 2008 through end-August 2009.

1

Fifth Review Prior action

M

N/A

5

1

2023-09-23

N/A

575

CENTRAL AFRICAN REPUBLIC

626

PRGF

2006-12-22

2,006

2009-12-21

2,009

2010-06-30

N/A

2009-12-04

P1

R5

BLANK

PA

20.4

1.4. Combined expenditure and revenue measures

Implement an automatic petroleum product pricing formula that ensures full pass-through to the consumer of all costs, distribution margins, VAT at the regular rate for gasoline and diesel, and a specific excise by product. The formula includes a timetable for petroleum taxation.

1

Second Review Prior action

M

At P1R2, this former spc was waived, upgraded to a pa, and implemented June 1, 2008. Macroeconomic rationale: Protect the budget from risks of fluctuating petroleum prices; creating room for well-targeted measures to mitigate the social impact of petroleum price changes.

5

1

2023-09-23

N/A

575

CENTRAL AFRICAN REPUBLIC

626

PRGF

2006-12-22

2,006

2009-12-21

2,009

2010-06-30

N/A

2009-12-04

P1

R5

BLANK

PA

20.6

1.6. Expenditure auditing, accounting, and financial controls

The issuance of an international competitive tender to undertake an external audit for the validation of domestic payments arrears, which accrued during the period 1998-2004.

1

Program Prior Action

M

N/A

5

1

2023-09-23

N/A

575

CENTRAL AFRICAN REPUBLIC

626

PRGF

2006-12-22

2,006

2009-12-21

2,009

2010-06-30

N/A

2009-12-04

P1

R5

BLANK

PA

20.8

1.8. Budget preparation (e.g., submission or approval)

Submit to parliament a draft budget for 2009 in line with the program's macroeconomic parameters. Budget to include previously extrabudgetary revenues, full provision of government consumption of utility services, reversal of VAT reductions for cement and galvanized sheets, full deductibility of VAT payments; and elimination of VAT withholding.

1

Third Review Prior action

M

R3 macroeconomic rationale: maintain macroeconomic stability and improve transparency and usefulness of the budget as a tool for macroeconomic management.

5

1

2023-09-23

N/A

575

CENTRAL AFRICAN REPUBLIC

626

PRGF

2006-12-22

2,006

2009-12-21

2,009

2010-06-30

N/A

2009-12-04

P1

R5

BLANK

SB

20.1

1.1. Revenue measures, excluding trade policy

Continue applying the automatic quarterly petroleum product pricing formula that ensures full pass-through to the consumer of all costs, distribution margins, VAT, and a specific excise by product. The formula includes a timetable for petroleum taxation.

2

06/30/2009

M

At P1R5, the benchmark was effectively met with respect to revenue targets in June and October.

5

2

2009-06-30

N/A

575

CENTRAL AFRICAN REPUBLIC

626

PRGF

2006-12-22

2,006

2009-12-21

2,009

2010-06-30

N/A

2009-12-04

P1

R5

BLANK

SB

20.1

1.1. Revenue measures, excluding trade policy

Continue applying the automatic quarterly petroleum product pricing formula that ensures full pass-through to the consumer of all costs, distribution margins, VAT, and a specific excise by product. The formula includes a timetable for petroleum taxation.

2

10/01/2009

M

At P1R5, the benchmark was effectively met with respect to revenue targets in June and October.

5

2

2009-10-01

N/A

575

CENTRAL AFRICAN REPUBLIC

626

PRGF

2006-12-22

2,006

2009-12-21

2,009

2010-06-30

N/A

2009-12-04

P1

R5

BLANK

SB

20.1

1.1. Revenue measures, excluding trade policy

Continue applying the automatic quarterly petroleum product pricing formula that ensures full pass-through to the consumer of all costs, distribution margins, VAT, and a specific excise by product. The formula includes a timetable for petroleum taxation.

2

Continuous

SB

Protect the budget from risks of fluctuating petroleum prices; create room for well-targeted measures to mitigate the social impact of petroleum price changes. Previously a PC. At R4, this is changed to a structural benchmark with continuous test dates.

5

2

2023-09-23

N/A

575

CENTRAL AFRICAN REPUBLIC

626

PRGF

2006-12-22

2,006

2009-12-21

2,009

2010-06-30

N/A

2009-12-04

P1

R5

BLANK

SB

20.1

1.1. Revenue measures, excluding trade policy

Reduce customs exemptions with the aim of eliminating discretionary exemptions and statutory exemptions with limited economic rationale.

3

12/31/2009

SB

Enhance revenue-generation potential. "Reduce customs exemptions from CFAF 11 billion in 2008 to CFAF 9 billion in 2009."

5

3

2009-12-31

N/A

575

CENTRAL AFRICAN REPUBLIC

626

PRGF

2006-12-22

2,006

2009-12-21

2,009

2010-06-30

N/A

2009-12-04

P1

R5

BLANK

SB

20.2

1.2. Revenue administration, including customs

Use turnover as the sole criterion for taxpayer classification with a turnover of CFAF 30 million as the minimum threshold for large taxpayers, VAT registration, and the standard tax system.

1

12/31/2008

MD

P1R2 macroeconomic rationale: Enhance revenue generation potential by focusing on large taxpayers and streamline the structure of VAT, the largest revenue source. At R3, upon advice by a recent AFRITAC TA mission, the turnover threshold was changed to CFAF 30 million (from 50 million) to ensure a sufficiently large number of taxpayers for the LTO. At R4, implemented in April 2009 to consult with FAD/AFRITAC experts on implementation. Minor legal amendment to be introduced with revised 2009 budget.

5

1

2008-12-31

N/A

575

CENTRAL AFRICAN REPUBLIC

626

PRGF

2006-12-22

2,006

2009-12-21

2,009

2010-06-30

N/A

2009-12-04

P1

R5

BLANK

SB

20.2

1.2. Revenue administration, including customs

Increase the number of audits in 2008 to cover (i) at least 30 percent of large and medium-sized taxpayers per year; (ii) all stop-filers; and (iii) all filers with VAT credit claims or zero balance returns.

2

12/31/2008

PM

P1R2 macroeconomic rationale: Enhance revenue generation potential by reducing scope for tax evasion. At R4, met for items (i) and (ii). Met with delay for item (iii), which was implemented in February 2009, when the few remaining VAT audits were completed.

5

2

2008-12-31

N/A

575

CENTRAL AFRICAN REPUBLIC

626

PRGF

2006-12-22

2,006

2009-12-21

2,009

2010-06-30

N/A

2009-12-04

P1

R5

BLANK

SB

20.2

1.2. Revenue administration, including customs

Interconnect the tax administration's SYSTEMIF and customs administration's ASYCUDA++ computer systems.

3

06/30/2009

M

R3 macroeconomic rationale: Enhance revenue generation potential by reducing the scope for tax evasion.

5

3

2009-06-30

N/A

575

CENTRAL AFRICAN REPUBLIC

626

PRGF

2006-12-22

2,006

2009-12-21

2,009

2010-06-30

N/A

2009-12-04

P1

R5

BLANK

SB

20.2

1.2. Revenue administration, including customs

For reputable taxpayers that demand VAT refund requests, pay 50 percent of refund request within 30 days, and the remainder after 90 days unless verification shows lower payment is warranted.

4

12/31/2009

SB

Introduced at R5. Rationale: Make exports more competitive by allowing zero rating of VAT liabilities in line with international best practice.

5

4

2009-12-31

N/A

575

CENTRAL AFRICAN REPUBLIC

626

PRGF

2006-12-22

2,006

2009-12-21

2,009

2010-06-30

N/A

2009-12-04

P1

R5

BLANK

SB

20.4

1.4. Combined expenditure and revenue measures

Review the work of the liquidity commission and require it to prepare rolling budget projections. Prepare detailed weekly recommendations based on rolling projections of revenue, financing and expenditures.

1

03/31/2010

SB

Introduced at R5. Rationale: Allow the liquidity commission to play a permanent leading policy-setting role; enable it to respond quickly and adjust flexibly to changes in the fiscal position.

5

1

2010-03-31

N/A

575

CENTRAL AFRICAN REPUBLIC

626

PRGF

2006-12-22

2,006

2009-12-21

2,009

2010-06-30

N/A

2009-12-04

P1

R5

BLANK

SB

20.5

1.5. Debt Management

Revise the 1988 law and decree on government guarantees, to strengthen the authorities' legal framework for issuing government guarantees by requiring that the recipient pays a fee for any guarantee. Clarify that all domestic and external guarantees need to be signed by the Minister of Finance and recorded in the debt statistics.

1

06/30/2009

MOD-DATE

R3 macroeconomic rationale: Limit contingent liabilities for the budget and provide better incentives for public or private enterprises. At R4, the test date was delayed to end-September 2009.

5

1

2009-06-30

N/A

575

CENTRAL AFRICAN REPUBLIC

626

PRGF

2006-12-22

2,006

2009-12-21

2,009

2010-06-30

N/A

2009-12-04

P1

R5

BLANK

SB

20.5

1.5. Debt Management

Revise the 1988 law and decree on government guarantees, to strengthen the authorities' legal framework for issuing government guarantees by requiring that the recipient pays a fee for any guarantee. Clarify that all domestic and external guarantees need to be signed by the Minister of Finance and recorded in the debt statistics.

1

09/30/2009

PM

At R4, new test date of end-September 2009. At R5, partially met.

5

1

2009-09-30

N/A

575

CENTRAL AFRICAN REPUBLIC

626

PRGF

2006-12-22

2,006

2009-12-21

2,009

2010-06-30

N/A

2009-12-04

P1

R5

BLANK

SB

20.5

1.5. Debt Management

Fully computerize the debt management unit and enable it to provide debt service projections for various scenarios.

3

12/31/2008

MD

P1R2 macroeconomic rationale: Increase reliability of debt forecasts and develop ability to take early corrective actions to maintain medium-term debt sustainability. At R4, met for computerization; not met for ability to run scenarios, which was implemented in February. A debt statistics bulletin is about to be published.

5

3

2008-12-31

N/A

575

CENTRAL AFRICAN REPUBLIC

626

PRGF

2006-12-22

2,006

2009-12-21

2,009

2010-06-30

N/A

2009-12-04

P1

R5

BLANK

SB

20.5

1.5. Debt Management

Integrate all domestic arrears from previous years in the computerized debt database of the debt department.

5

12/31/2009

SB

Introduced at R5. Rationale: Enhance capacity to manage domestic debt.

5

2009-12-31

N/A

575

CENTRAL AFRICAN REPUBLIC

626

PRGF

2006-12-22

2,006

2009-12-21

2,009

2010-06-30

N/A

2009-12-04

P1

R5

BLANK

SB

20.5

1.5. Debt Management

Create an inventory of all cross-debts between SOEs and local and central governments and among SOEs, establish a schedule for the clearance of cross-debts, and include public enterprise debts into the debt database.

6

03/31/2010

SB

Introduced at R5. Rationale: Facilitate the operation of SOEs on purely commercial terms Extend centralized debt management to all public sector debt.

5

6

2010-03-31

N/A

575

CENTRAL AFRICAN REPUBLIC

626

PRGF

2006-12-22

2,006

2009-12-21

2,009

2010-06-30

N/A

2009-12-04

P1

R5

BLANK

SB

20.6

1.6. Expenditure auditing, accounting, and financial controls

Implement a treasury single account

1

12/31/2008

MOD-DATE

P1R2 macroeconomic rationale: Reduce financing costs for the government and increase transparency of government operations. At R3, rescheduled to end-June 2009 due to additional time needed for preparation.

5

1

2008-12-31

N/A

575

CENTRAL AFRICAN REPUBLIC

626

PRGF

2006-12-22

2,006

2009-12-21

2,009

2010-06-30

N/A

2009-12-04

P1

R5

BLANK

SB

20.6

1.6. Expenditure auditing, accounting, and financial controls

Implement a treasury single account

1

06/30/2009

MOD-DATE

At R4, the test date was delayed to end-September 2009.

5

1

2009-06-30

N/A

575

CENTRAL AFRICAN REPUBLIC

626

PRGF

2006-12-22

2,006

2009-12-21

2,009

2010-06-30

N/A

2009-12-04

P1

R5

BLANK

SB

20.6

1.6. Expenditure auditing, accounting, and financial controls

Implement a treasury single account

1

09/30/2009

MOD-DATE

At R4, new test date of end-September 2009. At R5, new test date is end-December 2009.

5

1

2009-09-30

N/A

575

CENTRAL AFRICAN REPUBLIC

626

PRGF

2006-12-22

2,006

2009-12-21

2,009

2010-06-30

N/A

2009-12-04

P1

R5

BLANK

SB

20.6

1.6. Expenditure auditing, accounting, and financial controls

Implement a treasury single account

1

12/31/2009

SB

N/A

5

1

2009-12-31

N/A

575

CENTRAL AFRICAN REPUBLIC

626

PRGF

2006-12-22

2,006

2009-12-21

2,009

2010-06-30

N/A

2009-12-04

P1

R5

BLANK

SB

20.6

1.6. Expenditure auditing, accounting, and financial controls

Set up a liquidity committee including BEAC members to review monthly, weekly, and daily cash flow and expenditure commitment forecasts and assess liquidity needs.

2

06/30/2008

MD

P1R2 macroeconomic rationale: Reduce financing costs for the government and align government commitments with available resources to avoid arrears.

5

2

2008-06-30

N/A

575

CENTRAL AFRICAN REPUBLIC

626

PRGF

2006-12-22

2,006

2009-12-21

2,009

2010-06-30

N/A

2009-12-04

P1

R5

BLANK

SB

20.6

1.6. Expenditure auditing, accounting, and financial controls

Finalize the implementation of the government financial management system by fully applying Gesco to all stages of the expenditure process from commitment to payment.

3

12/31/2009

SB

Introduced at R5. Rationale: Improve fiscal control and avoid arrears.

5

3

2009-12-31

N/A

575

CENTRAL AFRICAN REPUBLIC

626

PRGF

2006-12-22

2,006

2009-12-21

2,009

2010-06-30

N/A

2009-12-04

P1

R5

BLANK

SB

20.7

1.7. Fiscal transparency (publication, parliamentary oversight)

Publish a detailed reform strategy for the revenue administration, based on the diagnosis of reform needs of the Tax Department.

1

03/31/2010

SB

Introduced at R5. Modernize and enhance effectiveness of tax administtration to increase revenue and taxpayer services.

5

1

2010-03-31

N/A

575

CENTRAL AFRICAN REPUBLIC

626

PRGF

2006-12-22

2,006

2009-12-21

2,009

2010-06-30

N/A

2009-12-04

P1

R5

BLANK

SB

25.1

6.1. Financial sector legal reforms, regulation, and supervision

Revise conventions with commercial banks to ensure that they no longer have control over government money. Thus, all government receipts will be deposited in the main treasury account at the central bank (BEAC).

2

06/30/2009

M

N/A

5

2

2009-06-30

N/A

575

CENTRAL AFRICAN REPUBLIC

626

PRGF

2006-12-22

2,006

2009-12-21

2,009

2010-06-30

N/A

2009-12-04

P1

R5

BLANK

SB

25.2

6.2. Restructuring and privatization of financial institutions

The government will refrain from providing resources to recapitalize the troubled commercial bank.

1

06/30/2007

M

Met for P1R1.

5

1

2007-06-30

N/A

575

CENTRAL AFRICAN REPUBLIC

626

PRGF

2006-12-22

2,006

2009-12-21

2,009

2010-06-30

N/A

2009-12-04

P1

R5

BLANK

SB

25.2

6.2. Restructuring and privatization of financial institutions

The government will refrain from providing resources to recapitalize the troubled commercial bank.

1

Continuous

CAN

At P1R1, as the recapitalization of the troubled bank was completed by a foreign investor, this benchmark was no longer relevant, and removed from the program. Although this sb appears in EBS/08/63, for the second review, desk reported that "it was a mistake, and the benchmark should have been removed from the 2nd review paper."

5

1

2023-09-23

N/A

575

CENTRAL AFRICAN REPUBLIC

626

PRGF

2006-12-22

2,006

2009-12-21

2,009

2010-06-30

N/A

2009-12-04

P1

R5

BLANK

SB

30.1

11.1. Private sector legal and regulatory environment reform (non financial sector)

Increase tariffs for water by 5 percent and for electricity by 5 percent for the upper tranches of consumption

1

06/30/2008

NM

P1R2 macroeconomic rationale: Reduce quasi-fiscal losses of state-owned enterprises that are critical for CAR's growth, and protect the budget.

5

1

2008-06-30

N/A

575

CENTRAL AFRICAN REPUBLIC

626

PRGF

2006-12-22

2,006

2009-12-21

2,009

2010-06-30

N/A

2009-12-04

P1

R5

BLANK

SB

30.1

11.1. Private sector legal and regulatory environment reform (non financial sector)

Reform commercial laws and civil procedures relating to debt collection and bankruptcy in line with the recommendations in the regional Financial Stability Assessment Program completed in June 2006.

2

12/31/2007

NM

At P1R2, not met, as was delayed by capacity limitations. Will be implemented as part of the authorities' agenda to apply the OHADA law.

5

2

2007-12-31

N/A

575

CENTRAL AFRICAN REPUBLIC

626

PRGF

2006-12-22

2,006

2009-12-21

2,009

2010-06-30

N/A

2009-12-04

P1

R5

BLANK

SPC

20.1

1.1. Revenue measures, excluding trade policy

Continue applying automatic quarterly petroleum product pricing formula.

1

12/31/2007

WMOD-PA

At P1R2, price adjustment formula to ensure recovery of all costs and taxes was delayed while the authorities considered measures to mitigate the social impact. Upgraded to a pa for the second review, and implemented June 1, 2008. At P1R2, descriptor changed from "Implement a new petroleum product pricing formula with parameters set to ensure full recovery of all costs, distribution margins, and taxes, and that avoids the need for further budget subsidies" to current spc, and retaining "continuous" test date.

5

1

2007-12-31

N/A

575

CENTRAL AFRICAN REPUBLIC

626

PRGF

2006-12-22

2,006

2009-12-21

2,009

2010-06-30

N/A

2009-12-04

P1

R5

BLANK

SPC

20.1

1.1. Revenue measures, excluding trade policy

Continue applying automatic quarterly petroleum product pricing formula.

1

10/31/2008

W

At R3, waiver granted, as not implemented in October 2008 due to the decline in international prices. Excise levels in December 2008 are higher than originally targeted by the program.

5

1

2008-10-31

N/A

575

CENTRAL AFRICAN REPUBLIC

626

PRGF

2006-12-22

2,006

2009-12-21

2,009

2010-06-30

N/A

2009-12-04

P1

R5

BLANK

SPC

20.1

1.1. Revenue measures, excluding trade policy

Continue applying automatic quarterly petroleum product pricing formula.

1

04/30/2009

M

This performance criterion was met for January and April 2009.

5

1

2009-04-30

N/A

575

CENTRAL AFRICAN REPUBLIC

626

PRGF

2006-12-22

2,006

2009-12-21

2,009

2010-06-30

N/A

2009-12-04

P1

R5

BLANK

SPC

20.1

1.1. Revenue measures, excluding trade policy

Continue applying automatic quarterly petroleum product pricing formula.

1

Continuous

WMOD-SB

P1R2 macroeconomic rationale: Protect the budget from risks of fluctuating petroleum prices; creating room for well-targeted measures to mitigate the social impact of petroleum price changes. At R4, this continuous PC is changed to a continuous benchmark.

5

1

2023-09-23

N/A

575

CENTRAL AFRICAN REPUBLIC

626

PRGF

2006-12-22

2,006

2009-12-21

2,009

2010-06-30

N/A

2009-12-04

P1

R5

BLANK

SPC

20.2

1.2. Revenue administration, including customs

Reduce the stock tax arrears by at least CFAF 1 billion, net of uncollectible tax arrears.

2

12/31/2007

W

At P1R2, reduction of tax arrears was not met. Several state-owned enterprises (SOEs) ran large quasi-fiscal deficits, as a result of which the SOEs were unable to pay taxes.

5

2

2007-12-31

N/A

575

CENTRAL AFRICAN REPUBLIC

626

PRGF

2006-12-22

2,006

2009-12-21

2,009

2010-06-30

N/A

2009-12-04

P1

R5

BLANK

SPC

20.2

1.2. Revenue administration, including customs

Complete the external audit of the operations of the one-stop customs window in Douala (Guichet Unique).

3

02/28/2007

W

At P1R1, implemented with a slight delay caused by donor coordination problems, which led the government to finance the audit itself to avoid another slippage.

5

3

2007-02-28

N/A

575

CENTRAL AFRICAN REPUBLIC

626

PRGF

2006-12-22

2,006

2009-12-21

2,009

2010-06-30

N/A

2009-12-04

P1

R5

BLANK

SPC

20.2

1.2. Revenue administration, including customs

Restructure (in consultation with Fund staff) the customs administration activities under a single entity, which will report to the Minister of Finance.

4

03/31/2007

M

N/A

5

4

2007-03-31

N/A

575

CENTRAL AFRICAN REPUBLIC

626

PRGF

2006-12-22

2,006

2009-12-21

2,009

2010-06-30

N/A

2009-12-04

P1

R5

BLANK

SPC

20.3

1.3. Expenditure measures, including arrears clearance

Set up and publish a plan to repay domestic arrears

1

09/30/2008

W

P1R2 macroeconomic rationale: Re-establish credibility of the government with respect to the public; reduce debt overhang. At R3, waiver granted, implemented with delay in December 2008.

5

1

2008-09-30

N/A

575

CENTRAL AFRICAN REPUBLIC

626

PRGF

2006-12-22

2,006

2009-12-21

2,009

2010-06-30

N/A

2009-12-04

P1

R5

BLANK

SPC

20.3

1.3. Expenditure measures, including arrears clearance

Eliminate the stock of treasury checks issued in 2005-06 and eliminate the issuance of non-cash backed treasury checks. The government will publicly announce that such treasury checks will no longer be valid after end-September 2007.

2

06/30/2007

M

N/A

5

2

2007-06-30

N/A

575

CENTRAL AFRICAN REPUBLIC

626

PRGF

2006-12-22

2,006

2009-12-21

2,009

2010-06-30

N/A

2009-12-04

P1

R5

BLANK

SPC

20.3

1.3. Expenditure measures, including arrears clearance

Complete the external audit for the validation of the domestic payments arrears, which accrued during the period 1998-2004.

3

06/30/2007

W

At P1R1, met with a slight delay due to limited understanding of some donor procurement procedures.

5

3

2007-06-30

N/A

575

CENTRAL AFRICAN REPUBLIC

626

PRGF

2006-12-22

2,006

2009-12-21

2,009

2010-06-30

N/A

2009-12-04

P1

R5

BLANK

SPC

20.7

1.7. Fiscal transparency (publication, parliamentary oversight)

Implement a formal procedure to audit and report on a quarterly basis all sources of revenue (tax and non-tax, including those for fees, licenses, and permits in the natural resource sector) accruing to the State. The audits should be carried out by the Inspector General of Finance who will be given access to all relevant information to conduct the audits, and submitted to the Court of Accounts for verification and publication, no later than 2 months after the end of each quarter. The first of such audits should be published by May 2007.

1

03/31/2007

M

N/A

5

1

2007-03-31

N/A

575

CENTRAL AFRICAN REPUBLIC

626

PRGF

2006-12-22

2,006

2009-12-21

2,009

2010-06-30

N/A

2009-12-04

P1

R5

BLANK

SPC

20.7

1.7. Fiscal transparency (publication, parliamentary oversight)

Begin an external audit of all the sources of government revenue (collected through ministries and agencies) during the period July-2005 to end-December 2006, to help ensure that all revenue has been dutifully reported to the state treasury, and to help clarify where reporting can be strengthened.

2

09/30/2007

M

N/A

5

2

2007-09-30

N/A

575

CENTRAL AFRICAN REPUBLIC

626

PRGF

2006-12-22

2,006

2009-12-21

2,009

2010-12-31

N/A

2010-08-25

P1

R6

L

PA

20.1

1.1. Revenue measures, excluding trade policy

Adjust petroleum product prices to ensures passthrough to the consumer of costs, distribution margins, VAT, and a specific excise by product as agreed with Fund staff.

1

Sixth Review Prior action

M

Previously a benchmark assessed on a continuous basis. Rationale: Protect the budget from risks of fluctuating petroleum prices; create room for measures to mitigate the social impact of petroleum price changes.

6

1

2023-09-23

N/A

575

CENTRAL AFRICAN REPUBLIC

626

PRGF

2006-12-22

2,006

2009-12-21

2,009

2010-12-31

N/A

2010-08-25

P1

R6

L

PA

20.2

1.2. Revenue administration, including customs

Revoke contract with Unitec Benin and staff the "Guichet Unique" in Douala with customs personnel.

1

Second Review Prior action

M

P1R2 macroeconomic rationale: Enhance revenue generation potential by removing ineffective and expensive operator.

6

1

2023-09-23

N/A

575

CENTRAL AFRICAN REPUBLIC

626

PRGF

2006-12-22

2,006

2009-12-21

2,009

2010-12-31

N/A

2010-08-25

P1

R6

L

PA

20.3

1.3. Expenditure measures, including arrears clearance

Pay all government utility bills from ENERCA, SODECA, and SOCATEL received from the beginning of November 2008 through end-August 2009.

1

Fifth Review Prior action

M

N/A

6

1

2023-09-23

N/A

575

CENTRAL AFRICAN REPUBLIC

626

PRGF

2006-12-22

2,006

2009-12-21

2,009

2010-12-31

N/A

2010-08-25

P1

R6

L

PA

20.4

1.4. Combined expenditure and revenue measures

Implement an automatic petroleum product pricing formula that ensures full pass-through to the consumer of all costs, distribution margins, VAT at the regular rate for gasoline and diesel, and a specific excise by product. The formula includes a timetable for petroleum taxation.

1

Second Review Prior action

M

At P1R2, this former spc was waived, upgraded to a pa, and implemented June 1, 2008. Macroeconomic rationale: Protect the budget from risks of fluctuating petroleum prices; creating room for well-targeted measures to mitigate the social impact of petroleum price changes.

6

1

2023-09-23

N/A

575

CENTRAL AFRICAN REPUBLIC

626

PRGF

2006-12-22

2,006

2009-12-21

2,009

2010-12-31

N/A

2010-08-25

P1

R6

L

PA

20.6

1.6. Expenditure auditing, accounting, and financial controls

The issuance of an international competitive tender to undertake an external audit for the validation of domestic payments arrears, which accrued during the period 1998-2004.

1

Program Prior Action

M

N/A

6

1

2023-09-23

N/A

575

CENTRAL AFRICAN REPUBLIC

626

PRGF

2006-12-22

2,006

2009-12-21

2,009

2010-12-31

N/A

2010-08-25

P1

R6

L

PA

20.8

1.8. Budget preparation (e.g., submission or approval)

Submit to parliament a draft budget for 2009 in line with the program's macroeconomic parameters. Budget to include previously extrabudgetary revenues, full provision of government consumption of utility services, reversal of VAT reductions for cement and galvanized sheets, full deductibility of VAT payments; and elimination of VAT withholding.

1

Third Review Prior action

M

R3 macroeconomic rationale: maintain macroeconomic stability and improve transparency and usefulness of the budget as a tool for macroeconomic management.

6

1

2023-09-23

N/A

575

CENTRAL AFRICAN REPUBLIC

626

PRGF

2006-12-22

2,006

2009-12-21

2,009

2010-12-31

N/A

2010-08-25

P1

R6

L

SB

20.1

1.1. Revenue measures, excluding trade policy

Continue applying the automatic quarterly petroleum product pricing formula that ensures full pass-through to the consumer of all costs, distribution margins, VAT, and a specific excise by product. The formula includes a timetable for petroleum taxation.

2

06/30/2009

M

At P1R5, the benchmark was effectively met with respect to revenue targets in June and October.

6

2

2009-06-30

N/A

575

CENTRAL AFRICAN REPUBLIC

626

PRGF

2006-12-22

2,006

2009-12-21

2,009

2010-12-31

N/A

2010-08-25

P1

R6

L

SB

20.1

1.1. Revenue measures, excluding trade policy

Continue applying the automatic quarterly petroleum product pricing formula that ensures full pass-through to the consumer of all costs, distribution margins, VAT, and a specific excise by product. The formula includes a timetable for petroleum taxation.

2

10/01/2009

M

At P1R5, the benchmark was effectively met with respect to revenue targets in June and October.

6

2

2009-10-01

N/A

575

CENTRAL AFRICAN REPUBLIC

626

PRGF

2006-12-22

2,006

2009-12-21

2,009

2010-12-31

N/A

2010-08-25

P1

R6

L

SB

20.1

1.1. Revenue measures, excluding trade policy

Continue applying the automatic quarterly petroleum product pricing formula that ensures full pass-through to the consumer of all costs, distribution margins, VAT, and a specific excise by product. The formula includes a timetable for petroleum taxation.

2

06/30/2010

MOD-PA

At R6, this s.b. is made a prior action for the completion of the 6th Review.

6

2

2010-06-30

N/A

575

CENTRAL AFRICAN REPUBLIC

626

PRGF

2006-12-22

2,006

2009-12-21

2,009

2010-12-31

N/A

2010-08-25

P1

R6

L

SB

20.1

1.1. Revenue measures, excluding trade policy

Continue applying the automatic quarterly petroleum product pricing formula that ensures full pass-through to the consumer of all costs, distribution margins, VAT, and a specific excise by product. The formula includes a timetable for petroleum taxation.

2

Continuous

SB

Protect the budget from risks of fluctuating petroleum prices; create room for well-targeted measures to mitigate the social impact of petroleum price changes. Previously a PC. At R4, this is changed to a structural benchmark with continuous test dates.

6

2

2023-09-23

N/A

575

CENTRAL AFRICAN REPUBLIC

626

PRGF

2006-12-22

2,006

2009-12-21

2,009

2010-12-31

N/A

2010-08-25

P1

R6

L

SB

20.1

1.1. Revenue measures, excluding trade policy

Reduce customs exemptions with the aim of eliminating discretionary exemptions and statutory exemptions with limited economic rationale.

3

12/31/2009

M

Enhance revenue-generation potential. "Reduce customs exemptions from CFAF 11 billion in 2008 to CFAF 9 billion in 2009."

6

3

2009-12-31

N/A

575

CENTRAL AFRICAN REPUBLIC

626

PRGF

2006-12-22

2,006

2009-12-21

2,009

2010-12-31

N/A

2010-08-25

P1

R6

L

SB

20.2

1.2. Revenue administration, including customs

Use turnover as the sole criterion for taxpayer classification with a turnover of CFAF 30 million as the minimum threshold for large taxpayers, VAT registration, and the standard tax system.

1

12/31/2008

MD

P1R2 macroeconomic rationale: Enhance revenue generation potential by focusing on large taxpayers and streamline the structure of VAT, the largest revenue source. At R3, upon advice by a recent AFRITAC TA mission, the turnover threshold was changed to CFAF 30 million (from 50 million) to ensure a sufficiently large number of taxpayers for the LTO. At R4, implemented in April 2009 to consult with FAD/AFRITAC experts on implementation. Minor legal amendment to be introduced with revised 2009 budget.

6

1

2008-12-31

N/A

575

CENTRAL AFRICAN REPUBLIC

626

PRGF

2006-12-22

2,006

2009-12-21

2,009

2010-12-31

N/A

2010-08-25

P1

R6

L

SB

20.2

1.2. Revenue administration, including customs

Increase the number of audits in 2008 to cover (i) at least 30 percent of large and medium-sized taxpayers per year; (ii) all stop-filers; and (iii) all filers with VAT credit claims or zero balance returns.

2

12/31/2008

PM

P1R2 macroeconomic rationale: Enhance revenue generation potential by reducing scope for tax evasion. At R4, met for items (i) and (ii). Met with delay for item (iii), which was implemented in February 2009, when the few remaining VAT audits were completed.

6

2

2008-12-31

N/A

575

CENTRAL AFRICAN REPUBLIC

626

PRGF

2006-12-22

2,006

2009-12-21

2,009

2010-12-31

N/A

2010-08-25

P1

R6

L

SB

20.2

1.2. Revenue administration, including customs

Interconnect the tax administration's SYSTEMIF and customs administration's ASYCUDA++ computer systems.

3

06/30/2009

M

R3 macroeconomic rationale: Enhance revenue generation potential by reducing the scope for tax evasion.

6

3

2009-06-30

N/A

575

CENTRAL AFRICAN REPUBLIC

626

PRGF

2006-12-22

2,006

2009-12-21

2,009

2010-12-31

N/A

2010-08-25

P1

R6

L

SB

20.2

1.2. Revenue administration, including customs

For reputable taxpayers that demand VAT refund requests, pay 50 percent of refund request within 30 days, and the remainder after 90 days unless verification shows lower payment is warranted.

4

12/31/2009

NM

Introduced at R5. Rationale: Make exports more competitive by allowing zero rating of VAT liabilities in line with international best practice.

6

4

2009-12-31

N/A

575

CENTRAL AFRICAN REPUBLIC

626

PRGF

2006-12-22

2,006

2009-12-21

2,009

2010-12-31

N/A

2010-08-25

P1

R6

L

SB

20.4

1.4. Combined expenditure and revenue measures

Review the work of the liquidity commission and require it to prepare rolling budget projections. Prepare detailed weekly recommendations based on rolling projections of revenue, financing and expenditures.

1

03/31/2010

MD

Introduced at R5. Rationale: Allow the liquidity commission to play a permanent leading policy-setting role; enable it to respond quickly and adjust flexibly to changes in the fiscal position. At R6, the first report in line with the SB was done in May 2010.

6

1

2010-03-31

N/A

575

CENTRAL AFRICAN REPUBLIC

626

PRGF

2006-12-22

2,006

2009-12-21

2,009

2010-12-31

N/A

2010-08-25

P1

R6

L

SB

20.5

1.5. Debt Management

Revise the 1988 law and decree on government guarantees, to strengthen the authorities' legal framework for issuing government guarantees by requiring that the recipient pays a fee for any guarantee. Clarify that all domestic and external guarantees need to be signed by the Minister of Finance and recorded in the debt statistics.

1

06/30/2009

MOD-DATE

R3 macroeconomic rationale: Limit contingent liabilities for the budget and provide better incentives for public or private enterprises. At R4, the test date was delayed to end-September 2009.

6

1

2009-06-30

N/A