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Deputies offer to sell gold concentrate at market price

The deputies of the Parliament proposed to amend the law «On the customs tariff of the Kyrgyz Republic." This was announced today at a meeting of the Committee on the Fuel, Energy Complex and Subsoil Use.

Every year, exports of ore and concentrates containing precious metals are growing. In 2008, 4,731.4 tons of gold-bearing ore were exported, in 2011 — 41,56.7 tons of ore. For four years, exports grew 8.7 times.

When exporting raw materials, no added value is formed. That is, the state loses the benefit in terms of tax revenues and creation of new jobs, social and economic development of the regions. In addition, the export of raw materials can lead to corruption schemes.

The current legislation has no norm providing for the export of raw materials and unprocessed products.

Rates of export customs duties for ore and concentrates of precious metals must be approved by the government at least at 25 percent of the customs value of the goods. Export of raw materials is allowed if the transaction price, specified in the foreign trade contract, is not less than the market cost of the precious metals.