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

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.

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

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.

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.