The Ministry of Economy proposes to approve the size of the minimum estimated income per month for 2021

On August 27, the Ministry of Economy of the Kyrgyz Republic submitted for public discussion a draft Government resolution "On approving the amount of the minimum estimated income per month for 2021".

The purpose and objective of this resolution is to approve the size of the minimum estimated income per month for 2021, which is used in calculating income tax.

Link: https://www.gov.kg/ru/npa/s/2647

A draft legal regulation on the Development Strategy of the Non-Bank Financial Market submitted for public discussion

On August 27, the State Service for Regulation and Supervision of the Financial Market under the Government of the Kyrgyz Republic submitted for public discussion a draft Government resolution "On Approval of the Development Strategy of the Non-Banking Financial Market of the Kyrgyz Republic for 2020-2025".

Link: https://www.gov.kg/ru/npa/s/2649

Amendments to the Tax Code provide for an increase in the tax on income of mining companies for the export of gold ores and concentrates to 7%

On August 25, President of the Kyrgyz Republic Sooronbai Jeenbekov signed the Law “On Amendments to the Tax Code of the Kyrgyz Republic”. According to the amendments, the income tax of mining companies for the export of gold ores and concentrates has been increased to 7%.

In addition, the tax base of royalties and its rates have been clarified.

The law was adopted by the Jogorku Kenesh of the Kyrgyz Republic on June 25, 2020.

Initially, the Government proposed setting the rate at 3%, but then during the second reading discussion, at the suggestion of the deputies, the income tax rate was increased to 7%.

The law will come into force after two months from the date of official publication.

Link: http://www.president.kg/ru/sobytiya/17528_vneseni_izmeneniya_vnalogoviy_kodeks_kirgizskoy_respubliki

The Ministry of Economy submits for public discussion the draft NLA in the field of customs

The Ministry of Economy of the Kyrgyz Republic submits for public discussion a draft resolution of the Government of the Kyrgyz Republic "On Amendments to the Resolution of the Government of the Kyrgyz Republic" On Certain Issues in the Sphere of Customs "dated February 13, 2020 No. 79"

The NLA has been developed in order to ensure proper control of the timeliness and completeness of the receipt of customs payments to the budget of the Kyrgyz Republic, as well as to provide prompt assistance to participants in foreign economic activity in providing deferrals or installments for customs payments.

Link: https://www.gov.kg/ru/npa/s/2644

Resolution of the Government of the Kyrgyz Republic of August 24, 2020 No. 434

On amendments to the Resolution of the Government of the Kyrgyz Republic "On some issues of conducting operations with raw materials containing precious metals" dated September 14, 2017 No. 570

In order to ensure an uninterrupted production process of subsoil use, in accordance with Articles 10 and 17 of the Constitutional Law of the Kyrgyz Republic "On the Government of the Kyrgyz Republic", the Government of the Kyrgyz Republic decided:

1. To include in the Resolution of the Government of the Kyrgyz Republic "On some issues of conducting operations with raw materials containing precious metals" dated September 14, 2017 No. 570 the following changes:

1) In paragraph 11 the words "September 1, 2020" shall be replaced by the words “April 1, 2021”;

2) In the Procedure for export from the territory of the Kyrgyz Republic and import into the territory of the Kyrgyz Republic of ores, concentrates and wastes containing precious metals and associated recoverable metals, approved by the above resolution:

- In the fourth paragraph of clause 4, the words “branch or representative office,” shall be deleted;

- The first paragraph of clause 13 after the words "own laboratory," add the words "located on the territory of the Kyrgyz Republic and".

2. This resolution shall enter into force on the day of its official publication, with the exception of subparagraph 2 of paragraph 1 of this resolution, which shall enter into force on April 1, 2021.

Prime Minister K. A. Boronov

Link: https://www.gov.kg/ru/npa/s/2642