IBC decides to join the development of the new Tax Code

IBC decides to join the development of the new Tax Code

The IBC Fiscal Policy Committee discussed on November 18 a number of business-critical issues.

How to apply the law on restructuring of tax arrears in practice? What is the purpose of the accounting bill, and how will it affect business? What problems do companies face in the digitalization process?

Businesses are concerned that many important bills have been hastily passed recently.

“On the basis of what strategic data will the new Tax Code be laid, and will it be in the interests of the investment climate? We do not know anything about it,” Committee Chairperson Yulia Abdumanapova said.

As a result of the discussions, the participants decided to get involved in the development of the new Tax Code.

Acting Prime Minister Artyom Novikov announced the need to develop a new Tax Code on November 16 at the first meeting of the Council for Economic Reforms under the Government of the Kyrgyz Republic. The created IWG was instructed to prepare a new version of the Tax Code and a package of relevant regulatory legal acts within two months.

On the issue of restructuring tax arrears, it was decided to combine all the questions and suggestions and apply to the State Tax Service with a letter or hold a meeting with its employees.