Bishkek, April 21, 2021 . / Kabar / . A number of simplifications for business will be introduced in the new Tax Code of Kyrgyzstan, Deputy Minister of Economy and Finance of the republic Bekbolot Aliyev told during a press conference at Kabar News Agency.
He added that the new Tax Code of Kyrgyzstan is expected to provide following simplifications:
- easing tax obligations for businesses;
- minimization of capital and operating costs to fulfill the tax obligations of all participants;
- simplification, automation of reporting and contact with tax officials;
- elimination of unfair competition and protection of domestic producers;
- the possibility of increasing exports to third countries and member countries of the Eurasian Economic Union (EAEU).
Besides, the deputy minister said the country will benefit from the new Tax Code. In particular, increasing tax collection, ensuring the traceability of goods throughout the supply chain, the possibility of detecting illegal turnover of goods, creation of favorable investment climate, increasing public confidence in government institutions and enhancing the efficiency and quality of socio-economic decision-making are provided in the document.
On April 21, it became known that new edition of the Tax Code has begun to be written in Kyrgyzstan.
An interdepartmental working group was created to write a new version of the Tax Code, which included representatives of business, government authorities and deputies of the Jogorku Kenesh.
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