Survey of the Millennium Challenge Corporation’s Oversight of Value Added Taxes Due from Compact Countries

Recommendations

Recommendation 1

We recommend that the Millennium Challenge Corporation develop and implement a centralized system to monitor value-added tax and incorporate it into its policies and procedures.

Questioned Cost:
$0
Close Date:
Recommendation 2

We recommend that the Millennium Challenge Corporation establish a system for collecting value-added tax data on payments, reimbursements, and outstanding balances.

Questioned Cost:
$0
Close Date:
Recommendation 3

We recommend that the Millennium Challenge Corporation revise guidance to Millennium Challenge Accounts to establish comprehensive policies and procedures related to Millennium Challenge Accounts' value-added tax transactions and establish internal controls in accordance with best practices.

Questioned Cost:
$0
Close Date:
Recommendation 4

We recommend that the Millennium Challenge Corporation issue appropriate guidance to Millennium Challenge Accounts to develop standard policies and procedures to require value-added tax recording, transaction tracking, and reporting in their Fund Accountability Statements.

Questioned Cost:
$0
Close Date: