In conditions when almost all countries of the world have reduced and even stopped their economies, there is also a decline observed in Kyrgyzstan. For example, in the first quarter of this year, the volume of foreign trade has been decreased, now the Government has announced that the budget for this year will be clearly deficient and the republic needs external assistance to patch it. Due to the fact that the economy is noticeably slowing down, enterprises and entrepreneurs are granted tax deferrals until better times. This week will remain in memory due to the fact that the Irkeshtam checkpoint is reopened for cargo from China, as well as the fact that the republic began to receive external financial resources, which the country's leadership asked last month.
The situation in trade. The volume of Kyrgyz foreign and mutual trade in goods in January-February 2020 amounted to USD 931.4 million and compared with January-February 2019 decreased by 1.5%.
According to data of the National Statistics Committee of the Kyrgyz Republic, export deliveries amounted to USD 310.6 million and increased by 20.3% compared to January-February 2019.
And import revenues decreased by 9.7% compared to January-February 2019, amounting to USD 620.8 million.
In the structure of commodity circulation, the share of exports was 33.3%, of imports - 66.7%.
The negative trade balance in January-February 2020 amounted to USD 310.2 million, a year earlier it made USD 429.6 million.
Exports of goods excluding gold increased by 7.1%, amounting to USD 186.4 million.
Budget deficit. Due to difficulties in the country's economy due to the coronavirus epidemic, in 2020 the republican budget will not receive KGS 5 billion.
First Vice Prime Minister of the country Kubatbek Boronov said that it is precisely this amount that the Tax and Customs Services of the country will not be able to collect.
Meanwhile, the Government of the Kyrgyz Republic is taking measures to stabilize the economy and ensure food security. Assistance is being provided to socially vulnerable groups. “The republican headquarters has been created. Measures are being taken to regulate the prices of food and basic necessities. Measures have been developed to assist entrepreneurs within the framework of the anti-crisis plan of the government,” Boronov said.
Tax deferral. By the Law of the Kyrgyz Republic adopted on April 3, 2020, the deadline for taxpayers to submit tax reports for the first quarter of 2020 and / or for tax periods from March to May is extended until July 1 of the current year without submitting a written statement.
This week, the State Tax Service of the Kyrgyz Republic reported that the exception is tax reporting on indirect taxes when importing goods into the territory of the Kyrgyz Republic from the territories of the EAEU member states.
By the same Law, the deadline for submitting the Unified Tax Return for 2019 by individuals is until April 1, 2021.
Right to deferment. According to the Law of the Kyrgyz Republic of April 3, 2020, taxpayers from April 1 to October 1, 2020 can submit applications to the tax authorities at the place of registration on granting a deferment or delay plan for the tax debt resulting from force majeure for a period of not more than one year .
The State Tax Service said that the application is submitted in the prescribed manner without presenting documents on a bank guarantee.
The same Law determines that for a late payment by a taxpayer of tax obligations for the period from March to June 2020 as a result of force majeure circumstances, tax sanctions and penalties will not be applied.
The algorithm for the transport of goods. This week, the State Customs Service of the Kyrgyz Republic clarified how goods will be transported from China through the Irkeshtam-road checkpoint.
In order to prevent the cross-border spread of coronavirus infection across the Kyrgyz-Chinese state border, as well as to organize the movement of goods from China to Kyrgyzstan through the Irkeshtam checkpoint, a special algorithm has been approved. It was developed in conjunction with relevant government agencies, taking into account the requirements of the Chinese side.
According to this algorithm, vehicles (trucks) without trailers will leave the Kyrgyz Republic for the “neutral zone” between the Irkeshtam checkpoint and the checkpoint in China, and trucks with trailers from China.
Prior to leaving the Irkeshtam border crossing point on neutral territory, the Sanitary and Epidemiological Service will conduct thermometry of drivers.
Further, upon arrival of vehicles in the "neutral zone" for coupling with Chinese trailers, the driver from the Kyrgyz Republic needs to stop the vehicle in a strictly designated place.
When hitching Chinese trailers to Kyrgyz trucks, drivers need to carry personal protective equipment (gloves, masks, disinfectants). In addition, drivers are not allowed to leave the cab before completing hitching operations and arriving at the Irkeshtam checkpoint.
The drivers will be checked with the help of rapid tests.
Amount of assistance to the Kyrgyz Republic. The authorities of Kyrgyzstan, due to the expected difficulties because of the coronavirus epidemic, have already appealed the main international financial organizations. Many of them without delay announced their readiness to support the request and allocate large amounts in the form of light loans and partially in the form of grants. This week, the Kyrgyz Government announced the total agreed amount of foreign assistance to the budget of Kyrgyzstan, which amounted to USD 456.4 million.
Deputy Prime Minister of the Kyrgyz Republic Erkin Asrandiyev said that these are already agreed programs on which financial resources began to flow. However, there are still some projects that are under negotiation. He noted that out of more than USD 450 million, over USD 120 million have already arrived from the International Monetary Fund.
“The remaining USD 335 million have been agreed and are at different stages of implementation and ratification,” he said.
“So far, the conditions and procedure for receipt are being worked out. We expect these funds to arrive later. The assistance is agreed with the Asian Development Bank in the amount of USD 120 million, with the World Bank - USD 21 million. At the same time, from the WB funds, USD 12 million are undergoing domestic procedures. The Kyrgyz Parliament has already approved, now the signing is expected. A tender for the purchase of medical equipment and protective equipment is being held for the remaining USD 9 million. The tender is held under the terms of the World Bank,” he said.
Kabar News Agency
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