Law review for August 26-30, 2019

Since August 30, the State Committee for Industry, Energy and Subsoil Use of the Kyrgyz Republic submits for public discussion a draft Government Resolution “On Amendments and Additions to the Resolution of the Government of the Kyrgyz Republic “On Issues of Licensing the Right to Use Subsoil” dated November 29, 2018 No. 561”.

The goals and objectives of the draft resolution are:

- bringing the norms of the Resolution of the Government of the Kyrgyz Republic “On Issues of Licensing the Right to Use Subsoil” dated November 29, 2018 No. 561” with the Law of the Kyrgyz Republic “On Subsoil ”dated May 19, 2018 No. 49;

- improving the system of regulation of subsoil use;

- increasing the transparency of the system for granting rights to use subsoil resources;

- implementation of the requirements of the current standards of the Extractive Industries Transparency Initiative (EITI) in the Kyrgyz Republic.

The adoption of this draft resolution will not entail the need to amend other normative legal acts.

Link: http://www.gov.kg/?p=137127&lang=ru

Since August 28, 2019, the Ministry of Economy of the Kyrgyz Republic submits for public discussion the draft Law of the Kyrgyz Republic “On Amending Certain Legislative Acts of the Kyrgyz Republic on Investment Support” and the draft Resolution of the Government of the Kyrgyz Republic “On the Law of the Kyrgyz Republic “On Amending and Adding to some legislation on investment support.”

Link: http://www.gov.kg/?p=137000&lang=ru

Starting August 28, the Ministry of Economy of the Kyrgyz Republic submits for public discussion the draft Law of the Kyrgyz Republic “On Amending the Tax Code of the Kyrgyz Republic” and the draft Resolution of the Government of the Kyrgyz Republic “On the Draft Law of the Kyrgyz Republic “On Amending the Tax Code of the Kyrgyz Republic.”

The draft Government Resolution proposes to approve the draft Law of the Kyrgyz Republic, which was developed with the aim of introducing cryptocurrency mining taxation in the Kyrgyz Republic, which will increase state budget revenues, and will also contribute to the principle of fair taxation in Kyrgyzstan, according to which taxation in the Kyrgyz Republic should be universal regardless of the type of activity.

Link: http://www.gov.kg/?p=137011&lang=ru

Since August 28, 2019, the State Service for Regulation and Supervision of the Financial Market under the Government of the Kyrgyz Republic submits for public discussion a draft Resolution of the Government of the Kyrgyz Republic “On Approving the Strategy for the Development of the Non-Banking Financial Market of the Kyrgyz Republic for 2019-2023”.

This draft resolution aims to develop the non-banking financial market of the Kyrgyz Republic and implement the Unity, Trust, Creation Government Program for 2018-2022, approved by resolution of the Jogorku Kenesh of the Kyrgyz Republic dated April 20, 2018 No. 2377-VI.

The main objective of the Strategy is to ensure accelerated economic growth through achieving sustainable and efficient functioning of the non-banking financial market, satisfying the needs of the real sector of the economy in financial resources, providing high-quality services in a competitive environment, and ensuring the transformation of savings into investments.

Link: http://www.gov.kg/?p=137083&lang=ru