The Law of the Kyrgyz Republic “On the National Budget of the Kyrgyz Republic for 2020 and the Forecast for 2021-2022” signed

President of the Kyrgyz Republic Sooronbai Jeenbekov signed the Law of the Kyrgyz Republic “On the National Budget of the Kyrgyz Republic for 2020 and the Forecast for 2021–2022”.

The law was adopted by the Jogorku Kenesh of the Kyrgyz Republic on November 28, 2019.

The adopted Law approved the national budget of the Kyrgyz Republic for 2020 on income in the amount of 163,710.4 million soms and expenditures in the amount of 171663.9 million soms The maximum deficit of the national budget for 2020 is set in the amount of 7953.5 million soms.

The law is subject to official publication and comes into force on January 1, 2020.

December 24, 2019

Link: http://www.president.kg/ru/sobytiya/15825_podpisan_zakon_kr_zakon_kirgizskoy_respubliki_o_respublikanskom_byudghete_kirgizskoy_respubliki_na_2020_god_i_prognoze_na_2021_2022_godi

Amendments to the Tax Code of the Kyrgyz Republic signed

President of the Kyrgyz Republic Sooronbai Jeenbekov signed the Law of the Kyrgyz Republic “On Amending Certain Legislative Acts of the Kyrgyz Republic (the Tax Code of the Kyrgyz Republic, the laws of the Kyrgyz Republic “On Tariffs for Insurance Contributions for State Social Insurance”, “On State Social Insurance”).”

The law was adopted by the Jogorku Kenesh of the Kyrgyz Republic on November 20, 2019.

The purpose of the adopted Law is to improve the legislation of the Kyrgyz Republic regarding the payment of income tax and insurance contributions for state social insurance in the clothing and textile industries.

According to the adopted Law, the amendments to the Tax Code and the Law “On Tariffs of Insurance Contributions for State Social Insurance” are valid until January 1, 2024.

The law shall enter into force 15 days after the date of its official publication.

Dec 24, 2019

Link: http://www.president.kg/ru/sobytiya/15827_vneseni_izmeneniya_v_nalogoviy_kodeks_kr

Bill on streamlining exchange trading procedures in Kyrgyzstan considered

On December 25, the MPs reviewed the second reading of the draft law “On Amending the Law of the Kyrgyz Republic “On Commodity Exchange and Exchange Trade in the Kyrgyz Republic”.

The amendments aim to eliminate editorial and technical inconsistencies of the Law “On Commodity Exchange and Exchange Trade in the Kyrgyz Republic”.

Currently, about 20 enterprises specializing in exchange trading are registered in the country, but due to the imperfection of the legislation, in fact, they exist only on paper.

The draft law proposes to determine the State Service for Regulation and Supervision of the Financial Market under the Government of the Kyrgyz Republic as the authorized body for exchange trade, as well as generally update and streamline the activities of commodity exchanges.

Link: http://www.kenesh.kg/ru/news/show/9327/rassmotren-zakonoproekt-ob-uporyadochenii-protsedur-birzhevoy-torgovli-v-kirgizstane

A bill on the creation of conditions for the introduction of electronic notary considered

On December 25, the Parliament deputies discussed the first reading of the draft law “On Amendments to the Law of the Kyrgyz Republic “On Notaries”.

The bill aims to create conditions for the introduction of electronic notaries, introduction of an online registry of notarial acts, electronic signatures, and unified notary information system for the activities of notaries in electronic format.

Link: http://www.kenesh.kg/ru/news/show/9327/rassmotren-zakonoproekt-ob-uporyadochenii-protsedur-birzhevoy-torgovli-v-kirgizstane

The draft law “On Amending the Law of the Kyrgyz Republic “On the Enactment of the Tax Code of the Kyrgyz Republic” discussed

On December 26, MPs considered the second reading of the draft law “On Amending the Law of the Kyrgyz Republic “On Enactment of the Tax Code of the Kyrgyz Republic”.

The draft law aims to extend the period of total declaration and its phased introduction for certain categories of persons.

Link: http://www.kenesh.kg/ru/news/show/9339/rassmotren-zakonoproekt-o-vnesenii-izmeneniy-v-zakon-kr-o-vvedenii-v-deystvie-nalogovogo-kodeksa-kr-vo-vtorom-chtenii