07/05/2024
07/05/2024
KUWAIT CITY, May 7: The Ministry of Finance has unveiled its comprehensive plan for tenders, practices, and contracts slated for the fiscal year 2024-2025, reports Al-Qabas daily. Among the 63 tenders and practices outlined, a significant initiative stands out: the evaluation of the state’s private real estate assets. This endeavor aims to engage specialized real estate evaluation companies to optimize returns on state-owned properties. In addition to real estate evaluation, the Ministry’s plan encompasses various practices geared towards enhancing the efficiency and security of its automated information center.
These include initiatives such as license renewal and maintenance for the ministry’s firewall devices, renovation, maintenance, and equipping of the main computer room, license renewal for antivirus programs, and evaluations of network security to identify potential vulnerabilities within the Ministry of Finance’s network infrastructure.
These proactive measures underscore the Ministry’s commitment to modernizing its operations, maximizing asset value, and bolstering cybersecurity measures to safeguard critical financial data. By implementing these initiatives, the Ministry aims to ensure robust governance and efficiency in its operations throughout the fiscal year.
The Ministry’s practices included the following:
■ Practicing the planning and budgeting system for the public sector
■ Practicing the strategic plan system of the Ministry of Finance
■ BEPS project to combat tax base erosion and profit shifting
■ The practice of providing electronic services to the tax administration
■ Maintenance and technical support for the KITAS automated tax system
■ Practice on providing support services in the financial fields and systems for the Ministry’s financial and tax affairs sector
■ Supply, installation and operation of Integrated Tax Administration (ITAS) and electronic services
■ Practice maintenance of operational environment equipment for expropriation management
■ Exercising supervision over the implementation of the Integrated Tax Administration System (ITAS) project and providing advisory services associated with it
■ The practice of providing special anti-virus software for the tax information exchange program, the automated system of the CRS, CBCR and FATCA agreements
■ The practice of supplying, operating and maintaining the tax information exchange program
■ Practicing specialist international tax consultants
■ The practice of providing and maintaining electronic services for tax administration