Kyrgyzstan’s economic week – July 23 -28, 2018

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Gasoline will not go up. The introduction of technical regulations of the Customs Union on the quality of oil and oil products will not lead to a significant increase in prices.

Alymbek Orozbekov, deputy chairman of the State Committee for Industry, Energy and Subsoil Use of the Kyrgyz Republic said that only price adjustment is possible within 3-4%.

He explained that at present prices for fuel and lubricants have increased due to the fact that wholesale selling prices have risen in the main suppliers - Russian refineries.

At the same time, he noted that for all the Eurasian Economic Union countries, except for Kyrgyzstan, technical regulations on high-quality oil and petroleum products entered into force since 2018.

"In this regard, Gazprom is already importing high-quality petrol to our country," he said.

Negotiations with Kazakhstan. Kyrgyzstan has started negotiations with Kazakhstan on import of petrol. Deputy chairman of the Committee for State Control of the Kyrgyz Republic Alymbek Orozbekov said that no specific details have been reached during the preliminary negotiations.

"Our strategic partner on the supply of oil and oil products is Russia," he said.

Orozbekov explained that excessive petrol in Kazakhstan appeared after they carried out a large-scale modernization of their refineries within the technical regulations of the Customs Union, which came into force in 2018.

Journalism and economics. The International Business Council (IBC) has begun to conduct training seminars for those interested in economic journalism on the topic: "How to read the numbers: statistical analysis, financial reporting." One of the interested organizers of the seminar was Bai-Tushum CJSC.

Experts in the field of data visualization from the media company Capital (Kyrgyzstan) and Data School Kyrgyzstan public fund told the participants of the club how to correctly "read the figures" and solidified their knowledge with practical exercises.

Specialists of Bai-Tushum Bank informed how to develop regional economies through value chains.

The Club of Economic Journalism project has started in July this year with the support of the US Embassy in Kyrgyzstan.

EXPO and tourism. Tourism promotion in Kyrgyzstan will be a priority direction of the Kyrgyz Republic's participation in the World Expo Dubai 2020, Nurlan Musuraliyev, vice president of the Chamber of Commerce and Industry of the Kyrgyz Republic told at a meeting with the business sector to discuss the issues of preparation and promotion of domestic tourism at the World Expo Dubai 2020.

The event was initiated by the CCI of the KR and the Tourism Department of the Ministry of Culture, Information and Tourism of the Kyrgyz Republic.

EXPO 2020 will be held from October 20, 2020 to April 10, 2021 in Dubai under the motto: "Connecting minds, creating the future" and will be the largest event for the region of the Middle East, North Africa and South Asia.

The account will be replenished. It became known that the entrepreneurs who caused damage to the state would reimburse them to the Single Deposit Account.

Emil Zhamgyrchiev Deputy Chairman of the State Service for Combating Economic Crimes of the Kyrgyz Republic said that at the moment the reimbursed funds are transferred to the account of the Treasury of the Ministry of Finance, but the State Service for Combating Economic Crimes is working to ensure that the funds were transferred in the future to a special account of law enforcement agencies set up by the Government.

"Our compensation for damage mainly comes from tax evasion of business entities. Entrepreneurs try to go and pay to the treasury, because there is an order and government decree. In case of a violation, the entrepreneur must pay on the same day, if he does not pay, accordingly, the penalties will increase. To avoid all this, they try to pay the amount to the treasury, and not to our deposit," he said.

Taxes and business. At the initiative of the State Tax Service of the Kyrgyz Republic, a meeting of the Tax Service leadership headed by Chairman Tenizbek Abzhaparov is held with members of the International Business Council (IBC) - representatives of the country's large business.

IBC was represented by leading companies, the largest taxpayers from various sectors of the economy - mining and food industry, telecommunications, banking, financial, insurance, construction sectors. The meeting was also attended by representatives of the largest audit, logistics, oil, leasing companies, as well as restaurant and hotel business.

Having told about the plans and initiatives of the department in the field of tax legal relations, the employees of the Tax Service answered questions of the business community.

Mining companies offered to solve some tax issues, in particular, in determining the taxable value of the property, as well as in determining the value of land tax. Representatives of the mining sector were interested in whether the statistics on taxpayers' complaints on the results of tax inspections are being kept.

Kabar News Agency

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