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Economy Ministry changes procedure for applying reference price level

The Ministry of Economy of Kyrgyzstan submitted for public discussion a draft government decree on a draft law, proposing amendments to some legislative acts of the Kyrgyz Republic (the Tax Code, the Violations Code). This is a mechanism for applying a reference level of prices for goods.

The document stipulates that the minimum set price will be applied both to imported goods from the countries of the Eurasian Economic Union and to the products manufactured in Kyrgyzstan.

Recall, the amendments are related to the decision of the Eurasian Economic Commission (EEC). Kazakhstan complained about Kyrgyzstan, considering the minimum price level as an obstacle to trade. EEC took the side of Kazakhstan and gave Kyrgyzstan three months to eliminate the shortcomings.

After Kyrgyzstan joined the union, unaccounted goods flooded the republic, or the goods were imported at low prices to pay less taxes. The mechanism of reference price level was introduced by the government in order to control the import of goods from the EEU countries and the payment of taxes on them.

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