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President of Kyrgyzstan signs law on financial reporting by NGOs

President of Kyrgyzstan Sadyr Japarov signed a law on financial reporting by NGOs. It was adopted on June 17 in the third reading and submitted for signature on June 26.

According to the amendments approved by the Parliament, a non-profit organization (with the exception of state and municipal institutions), operating at the expense of monetary and material resources provided free of charge, annually, by April 1, has to post summary information for the previous year on the sources of formation of funds, as well as information about the acquired, used and alienated property on the website of the authorized tax authority.

The form and procedure for placing information are determined by the Cabinet of Ministers.

It is noted that the size and structure of income, as well as information about the property of an NGO, its expenses cannot be the subject of commercial secrets.

The law comes into force on the day of its official publication.

On March 4, the Parliament of Kyrgyzstan adopted in the first reading amendments to the law on NGOs, which oblige non-profit organizations to report on the sources of their funding. Human rights activists called it discriminatory and asked the initiators to withdraw the bill.