Law review for June 8-12, 2020

It is proposed to increase income tax for mining and processing enterprises by 7%

On June 11, MPs adopted the second reading of the draft law “On Amending the Tax Code of the Kyrgyz Republic”.

The draft law proposes an increase in the income tax of mining enterprises by 7% in the case of the sale of gold-bearing ores and concentrates and a sale of the tax base of royalties when selling metal-containing ores and concentrates. The bill also provides for a revision of the tax base of royalties when selling metal-containing ores and concentrates.

Link: http://www.kenesh.kg/ru/news/show/10360/predlagaetsya-povishenie-stavki-naloga-na-dohod-gornodobivayushtih-i-gornopererabativayushtih-predpriyatiy-na-7

The program “Financing Entrepreneurship Entities” was approved

The Government of the Kyrgyz Republic approved the Program “Financing Entrepreneurship Entities” in order to restore and ensure economic and social stability, support entrepreneurship in the situation of the coronavirus spread.

Link: https://www.gov.kg/ru/npa/s/2518

Parliament Committee reviews amendments to the Tax Code

On June 9, the Parliament Committee on Economic and Fiscal Policy considered the draft Law “On Amending the Tax Code of the Kyrgyz Republic”. The bill was developed to improve the investment climate in the country and consolidate the banking system by creating favorable conditions for foreign investors while channeling retained earnings of commercial banks to increase their authorized capital.

Link: http://www.kenesh.kg/ru/news/show/10306/komitet-rassmotrel-popravki-v-nalogoviy-kodeks

MPs propose to introduce a ban on the import, production and sale of disposable plastic bags

On June 8, the Parliament Committee on Agrarian Policy, Water, Ecology and Regional Development approved the draft law “On restricting the turnover of packages of polymer film in the Kyrgyz Republic” and the draft Law of the Kyrgyz Republic “On Amending the Code of the Kyrgyz Republic on Violations” in first reading.

The bill is designed to reduce the harmful effects of polymer materials on health and the environment. It is proposed to introduce a ban on the import, production and sale of disposable plastic bags.

Link: http://www.kenesh.kg/ru/news/show/10289/predlagaetsya-vvesti-zapret-na-vvoz-proizvodstvo-i-realizatsiyu-odnorazovih-upakovochnih-paketov-iz-polimernih-materialov