IBM Inks 56M Euro Agreement with Slovak Ministry of Finance For Integrated Finance System

February 22, 2010

IBM has been selected by the Ministry of Finance of the Slovak Republic to provide technical assistance services for the design, development and implementation of an intelligent, integrated finance information system for the country.

According to the three-year, 56 million euro contract signed yesterday, IBM will standardize Slovakia’s fiscal system by integrating and streamlining existing processes into a unified collection platform. The solution will improve the transparency and accountability of Slovak public fiscal management, supporting decision making and governance.

The project will be funded from European Union structural funds and co-financed from the state budget.

The project is part of the Slovak government’s program to revamp the tax information system; improve communication between taxpayers and the tax authority; and unify the collection of taxes, customs duties and insurance contributions. Once completed, the new system will play an important role in providing quality public services to benefit citizens and the Slovak economy.

“We will design and implement a smart solution in Slovakia – an integrated system for the administration of taxes, customs and insurance collection," said Roman Brestovanský, Country General Manager, IBM Slovakia.

IBM will undertake the project in several phases:

• Introducing a “one-stop service“ – taxpayers will be able to perform a variety of tasks using one platform, eliminating duplicate confirmations and forms, and reducing the administrative burden for citizens and companies related to the collection of taxes, customs duties and insurance contributions.

• Enabling integration and communication between various local authorities.

• Establishing a centralized taxation information platform.