BISHKEK (TCA) — The Respublika – Ata-Jurt faction in the Kyrgyz parliament has proposed introducing tax benefits for investors developing Kyrgyzstan’s regions, KyrTAG news agency reports.
MP Tabyldy Tillayev presented such amendments to the Tax Code at the meeting of the parliamentary Committee of Economic and Fiscal Policy on October 11.
“We propose introducing benefits on the profit tax, property tax and land tax for organizations implementing investment projects in the regions,” he said.
According to proposed amendments tax benefits would depend on the amount of investments.
Meanwhile, on October 11 the National Statistical Committee of Kyrgyzstan held a news conference on the country’s economic results in January-September 2016.
According to the Statistical Committee, the processing industry accounted for the largest part of industrial production in Kyrgyzstan (78 percent). In the regional breakdown, most industrial production was produced in the northern Chui province (around 40 percent), the Issyk-Kul province (25 percent), and the capital Bishkek (around 17 percent).
The Statistical Committee also said that in 2015, small and medium businesses (SMEs) in Kyrgyzstan accounted for around 22 percent of industrial production, more than 90 percent of construction works, 61 percent of agricultural production, and 85 percent of all trade.
In 2015, Kyrgyzstan had 14 thousand SMEs, 401 thousand farms, and around 367 thousand registered individual entrepreneurs. The SME sector (excluding farms) employed more than 88 thousand people or around 4 percent of all economically active people in the country.
