Tax authorities of Kyrgyzstan confident that new tax code will improve country's economy

Bishkek, Oct. 7, 2021 / Kabar /. Deputy Minister of Economy and Finance of Kyrgyzstan Bekbolot Aliyev is confident that the new tax code will improve the country's economy. During a press conference at Kabar News Agency he said that given the continuous process of economic development, Kyrgyzstan is also a part of the world economy. “Since our entrepreneurs work closely with global companies, we plan to switch from a fixed payment of taxes to payment based on their reporting. Thus, the new edition of the tax code provides for the abolition of some regimes that were based on a mandatory patent and contract,” Aliyev said. He also added that there were many suggestions and criticism during the public discussion. “We were able to remove a large layer of contradictions and this tax code, to a greater extent, is an agreed option, and it will have a positive impact on the development of the economy,” the deputy minister said. A new edition of the Tax Code of Kyrgyzstan was submitted for public discussion in September 2021. The country plans to adopt a Tax Code from January 1, 2022. The current Tax Code was adopted in 2008-2009.