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President of Kyrgyzstan promises tax breaks

From 2022, it will be possible to pay only one instead of several types of taxes. The President Sadyr Japarov said during celebration of the 30th anniversary of Kyrgyzstan’s independence.

According to him, to date, all borders with neighboring states are closed, trade operations are almost suspended. Naturally, tax and customs revenues are reduced in such a situation.

«In the first seven months of 2021, we managed to raise additional 12 billion soms by eliminating tax and customs abuses of the previous regime and developing the mining industry in accordance with national interests. As a result, we are preparing to increase pensions and allowances, as well as purchase drugs and vaccines against coronavirus,» Sadyr Japarov said.

The authorities have set a series of ambitious plans to ensure rapid economic development.

«Active work is underway to implement projects on the construction of large and small hydropower plants in order to use the energy potential of Kyrgyzstan,» Sadyr Japarov said.

According to the head of state, it is wrong to say that the Kyrgyz Republic is in a geographic transport deadlock, therefore, domestic specialists are working hard to increase the country’s transit potential.

Our main plans, taking into account the conditions of our country, are creation of multimodal cargo air hubs, construction of industrial trade and logistics complexes in order to increase the capacity of Manas, Tamchy, Batken and Osh international airports.

Sadyr Japarov

«We hope that commissioning of large facilities through the instruments of public-private partnership, rapid creation and launch of investment funds will contribute to the economic recovery. Relevant decrees and decisions of the Cabinet of Ministers are being prepared,» the President noted.

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