On January 4, 2021, the Acting President of the Kyrgyz Republic, Toraga (Speaker) of the Jogorku Kenesh (Parliament) Talant Mamytov signed the Law “On the republican budget of the Kyrgyz Republic for 2021 and forecast for 2022–2023”.

The law was adopted by the Jogorku Kenesh of the Kyrgyz Republic on December 10, 2020.

The law approved the republican budget of the Kyrgyz Republic for 2021 in terms of revenues in the amount of 172 891.6 million soms and expenditures in the amount of 181 354.8 million soms. The maximum size of the republican budget deficit for 2021 is set at 8 463.2 million soms.

Link: http://www.president.kg/ru/sobytiya/18428_podpisan_zakon_orespublikanskom_byudghete_kirgizskoy_respubliki_na2021_god_iprognoze_na20222023_godi

The Finance Ministry submits for public discussion the draft NLA on State Deposit Account

On January 4, 2021, the Ministry of Finance of the Kyrgyz Republic submitted for public discussion a draft resolution of the Government of the Kyrgyz Republic "On the enrollment, accounting and use of funds received to the State Deposit Account".

In order to accumulate and targeted use of funds received from legal entities and individuals on a voluntary basis, to support the budget, as well as within the measures for economic amnesty and legalization of funds to ensure payments for socially significant expenses, there is a need to open a separate State deposit account to ensure transparency in the enrollment, accounting and use of these funds.

This draft resolution proposes to approve the Regulation on the enrollment, accounting and use of funds received on the National Deposit Account.

Link: https://www.gov.kg/ru/npa/s/2877

The order of economic amnesty determined

The amendments introduced by the Law of the Kyrgyz Republic of December 31, 2020 No. 13 to the Criminal Code of the Kyrgyz Republic established that for a number of crimes against property and the procedure for carrying out economic activities, in case of voluntary compensation for damage caused to the owner, the person is subject to release from criminal liability and punishment.

It is determined that the amounts of voluntarily compensated damage caused to the state are credited to the republican budget revenues in accordance with budget legislation.

Link: https://online.toktom.kg/NewsTopic/6286

A number of changes have been made to support investments

Changes made by the Law of the Kyrgyz Republic of December 26, 2020 No. 12 to some legislative acts, affected the procedure for attracting investments and implementing public-private partnerships.

The changes to the competence of the local state administration include the transfer of pastures, hayfields and types of non-agricultural land of the category of agricultural land to other types or to other categories of land, except for the transfer of land for the construction of individual housing, as well as the transfer of reserve lands to the category of agricultural land.

Link: https://online.toktom.kg/NewsTopic/6287

The procedure for the transition to electronic tax reports have been changed

In order to support business entities in the context of the COVID-19 coronavirus infection pandemic, by Government Resolution No. 641 dated December 31, 2020, the procedure and terms for the transition to tax reporting in the form of an electronic document were changed.

The resolution sets the deadlines for the transition to the submission of tax reports in the form of an electronic document signed with a simple electronic signature: for organizations – from April 1, 2021, and for individual entrepreneurs – from January 1, 2022.

Link: https://online.toktom.kg/NewsTopic/6280

The Jogorku Kenesh Committee adopted a draft law on the ratification of the EAEU Trademark Treaty

On January 12, the Committee on International Affairs, Defense and Security of the Jogorku Kenesh considered the third reading of the draft Law of the Kyrgyz Republic "On Ratification of the Treaty on Trademarks, Service Marks and Appellations of Origin of Goods of the Eurasian Economic Union, signed on February 3, 2020 in Moscow". The bill was initiated by the Government of the Kyrgyz Republic.

Link: http://www.kenesh.kg/ru/news/show/10867/komitet-zhogorku-kenesha-rassmotrel-zakonoproekti-v-tretyem-chtenii