On signing the Decree “On supporting measures to entities engaged in agricultural activities”
On 6 December the President of the Kyrgyz Republic Sadyr Japarov signed a decree “On supporting measures to entities engaged in agricultural activities”.
The Decree offers exemption from land tax for the use of agricultural land for the period of 2022-2025, while the local budget losses due to the cancellation of this tax will also be compensated.
On signing the Decree “On support of small businesses and creating a favorable tax climate”
On 6 December the President of the Kyrgyz Republic Sadyr Japarov signed a Decree “On supporting small businesses and creating a favorable tax climate”. This Decree provides tax exemption for business entities with annual turnover up to 8 million soms. Moreover, in order to establish an analytical platform the following requirements are established:
– Mandatory application of cash register,
– Mandatory application of online invoices,
– Payment of income tax and insurance premiums,
– Payment of land tax, property tax (if applicable),
– No import-export operations.
On approval of a Program on support and development of women’s entrepreneurship for 2022-2026
On 8 December the program on support and development of women’s entrepreneurship in the Kyrgyz Republic for 2022-2026 was approved. The decision is signed by the Chairman of the Cabinet of Ministers of the Kyrgyz Republic Akylbek Japarov. The relevant decision of the Cabinet of Ministers of the Kyrgyz Republic enters into force after seven (7) days from the date of its official publication.
On submission for public consideration draft legal act on the identification of mobile devices and devices used for data transmission
The Ministry of Digital Development of the Kyrgyz Republic submitted for public consideration the draft resolution of the Cabinet of Ministers of the Kyrgyz Republic “On the issues of identification of mobile communication devices, as well as devices used for data transmission” since December 10, 2021. This draft resolution was developed within the framework of implementation of the Law of the Kyrgyz Republic “On amendments to some legislative acts of the Kyrgyz Republic” (the laws of the Kyrgyz Republic “On Electricity and Postal Communication”, “On Licensing System in the Kyrgyz Republic)”.
The developed draft decree provides for creation of the State System of Identification of Communication Devices on the basis of the authorized body on communication. This system will allow the following:
– Increase state revenues by controlling the importation of devices,
– Reducing the number of stolen mobile communication devices,
– Exclusion of unfair competition between providers,
– Use of quality cell phones,
– Security.
On submission for public consideration draft legal act on the export of precious metals
The Ministry of Economy and Finance of the Kyrgyz Republic from December 10, 2021 submitted for public consideration a draft decree of the Cabinet of Ministers of the Kyrgyz Republic “On the introduction of quantitative restrictions on the export from the territory of the Kyrgyz Republic of precious metals and raw materials containing precious metals.
The main purpose of this draft decree is to protect the domestic jewelry industry and eliminate inconsistencies in the application of quantitative restrictions on the export of precious metals and raw materials containing precious metals from the territory of the Kyrgyz Republic with the Eurasian Economic Union.
On submission of a draft legal act on the order for conducting inspections of business entities for public consideration
Since 14 December the Ministry of Economy and Finance of the Kyrgyz Republic submitted for public consideration the draft resolution of the Cabinet of Ministers of the Kyrgyz Republic “On amendments to some legislative acts of the Kyrgyz Republic (the laws of the Kyrgyz Republic “On the procedure for inspections of business entities” and “On operational and investigative activities”).
The amendments to the existing laws make several fundamental changes. Thus, the concept of re-inspections is completely excluded, instead preventive measures are introduced. Law enforcement agencies are completely forbidden to conduct inspections of entrepreneurs, previously they were only allowed to conduct financial
inspections.
There is also a number of innovations: remote inspection, the use of information technologies and, if desired, the management of companies may receive notification of upcoming inspections via electronic channels. To do this, it is necessary to apply to the relevant authorities with an application.
The terms of response to citizens’ complaints about entrepreneurs have been changed. If previously the authorized bodies had to respond to appeals within 15 working days to conduct an unscheduled inspection, now it will be conducted immediately after receipt of the appeal.
On the establishment of the joint-stock company “National Holding Company “Heritage of the Great Nomads”
An open joint-stock company “National Holding Company “Heritage of the Great Nomads” with 100% state participation in its authorized capital was created. The relevant decision was signed by the Chairman of the Cabinet of Ministers of the Kyrgyz Republic Akylbek Japarov.
This decision was taken to fulfill Decree No. 5 of the President of the Kyrgyz Republic “On issues of reforming the mining industry of the Kyrgyz Republic” dated January 29, 2021.
One of the main objectives of establishing such a company is to create a large integrated structure which will be capable to concentrate available government resources. These resources are to be used for implementation of projects in the subsoil use and related sectors of the economy based on international experience.
It should be noted that the founder of the open joint stock company “National Holding Company “Heritage of the Great Nomads” will be the Ministry of Finance of the Kyrgyz Republic.
The authorized capital of the open joint stock company is defined in the amount of 100 million soms. The authorized capital is to be increased up to 1 billion soms in 2022.
On signing the Decree “On support of a tourism development in the Kyrgyz Republic”
On 18 December the President of the Kyrgyz Republic Sadyr Japarov signed a decree “On support of tourism development in the Kyrgyz Republic.
In order to improve the effectiveness of state support for the tourism industry, improve tools to attract domestic and foreign investment in the reconstruction and development of tourist infrastructure (including transport, utilities, innovation, entertainment and other infrastructure involved in tourism) and increase the tourism potential of the Kyrgyz Republic, it was decided to establish the National Council for Tourism Development in the Kyrgyz Republic.
On Amendments to certain legislative acts in the licensing and permit system
On 22 December the deputies of the Jogorku Kenesh considered the draft law “On Amendments to Certain Legislative Acts of the Kyrgyz Republic in the Licensing System” in the third reading. It was initiated by the Cabinet of Ministers of the Kyrgyz Republic.
The draft law sent for voting in the third reading
On approval of a draft Tax Code of the Kyrgyz Republic in the third reading
On 22 December deputies considered the draft Tax Code of the Kyrgyz Republic in the third reading.
Thus, the purpose of the draft Tax Code of the Kyrgyz Republic is to adapt the tax legislation of the Kyrgyz Republic to the current economic conditions, to further improve the digitalization of tax procedures, to create a level playing field for business activities and reduce the shadow economy.