Risk factor proposed to be introduced when reimbursing agricultural losses

On June 1, IBC took part in the discussion of amendments and additions to the Resolution of the Government of the Kyrgyz Republic "On approval of the standards for the cost of compensation for agricultural production losses and use of funds coming for their reimbursement" from January 5, 2016 No. 1.

The meeting was held at the Justice Ministry.

The participants considered the need to establish a 2% risk factor in calculating the lost profits and compensation for losses when transferring agricultural land to other types of land and land for subsoil use.

The Justice Ministry proposed to apply the land tax provided for rainfed lands with respect to such farmland as hayfields and pastures.