Deputies of the Parliament of Kyrgyzstan in the first reading considered and approved two bills: «On Amendments to Some Legislative Acts of the Kyrgyz Republic (Tax Code, the Law «On Free Economic Zones in the Kyrgyz Republic», the Law «On Investments in the Kyrgyz Republic») and «On the creation of a free economic zone International Financial Center Jalal-Abad». The press service of the Parliament reported.
The bills were presented by one of the initiators — MP Meikinbek Abdaliyev. According to him, the documents are aimed at creating a free economic zone International Financial Center Jalal-Abad, as well as streamlining and strengthening the legal framework regulating the activity of the newly created financial center. The bills were initiated by 29 deputies.
According to the documents, it is proposed to create the financial center on the basis of Jalal-Abad city, in which companies that provide financial and other services to foreign contractors (brokerage, insurance, consulting and other services) can operate.
The draft law provides that residents of International Financial Center Jalal-Abad can get appropriate tax benefits only if they sell at least 90 percent of their services to external counterparties.
