News / IBC news /
IBC: Court will determine legality of the charge for non-payment of taxes

May 29, 2018

IBC Executive Director Askar Sydykov spoke at a press conference on the situation around KAZ Minerals Bosymchak. Business is concerned about the current situation, since any illegal actions against any public companies of such rank inflict irreparable damage to the investment climate and the country's reputation, Sydykov said.

The company belongs to the KAZ Minerals PLC group, whose shares are listed at the London Stock Exchange (LSE). He recalled that in November 2017 the State Service for Combating Economic Crimes under the Government of the Kyrgyz Republic suspended the company's license for one day due to the situation on the Kyrgyz-Kazakh border. This produced a serious negative background at the London Stock Exchange. Investors wondered if it was worth investing in Kyrgyzstan.

Currently, the civil case on KAZ Minerals Bosymchak is at the Bishkek inter-district court, and the legality or illegality of the charge of non-payment of taxes should be determined by the court in accordance with the current legislation, Sydykov concluded.