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Enterprises dealing with non-ferrous metals in Kyrgyzstan not get profit

None of the enterprises of the mining sector, dealing with non-ferrous metals and operating in the general tax regime, has not received a profit yet. The Chairman of the International Business Council, Askar Sydykov, announced at a press conference today.

According to him, as of today, the tax burden on mining enterprises is 17.9 percent of revenue. In neighboring Kazakhstan, the figure is 14 percent, in Mongolia — 15 percent. The profit of many companies reaches not more than 5 percent, and the payback period of projects is 10-20 years.

«Most of our companies are now engaged in exploration. It is unknown when they will start mining. That is, companies are constantly investing, but there is no profit yet. Therefore, we say that the increase in the tax burden will have a negative impact on the sector,» Askar Sydykov stressed.

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