OREANDA-NEWS. At Hyatt Regency Bishkek, the International Business Council held an open meeting, to discuss two drafts of the Tax Code, prepared by the Government of the KR and by the business community, reported the press-centre of IBC.

Participating in the debate were the Kyrgyz Prime Minister Almazbek Atambayev, Finance Minister Akylbek Japarov, Minister of Economic Development and Trade Sabyrbek Moldokulov, the Vice Speaker Erkinbek Alymbekov, as well as officials from ministries and agencies, JK deputies, representatives of business, public, and international organizations.  

The Tax Code is a vital regulator of social and economic processes. The business community’s involvement in preparing the alternative draft is a clear sign of the public’s solid role in shaping the national tax policy, said Prime Minister Almazbek Atambayev.   
 
The tax system currently existing in Kyrgyzstan needs profound reforms. The new draft Tax Code has already been on the drawing board for three years.  Prior to consideration and adoption of the draft Tax Code by the Jogorku Kenesh (Parliament) of the Kyrgyz Republic, the IBC organized a public debate on the issue.      
 
In Atambayev’s words, the Government is trying to improve the tax system in the republic, though not without faults. Some people have to pay too much in taxes, others remain unassessed at all. The new Tax Code should not only help maximize budget revenues, but also bring down corruption in tax agencies and state structures, said Atambayev.

“We do have the spirit of free enterprise. The goal is to make sure that entrepreneurs want to duly pay taxes and build up their businesses,” said the premier.
 
Tax burden in Kyrgyzstan is one of the heaviest in the CIS and is unevenly distributed, said Tatiana Kim, the IBC member and Head of the Chamber of Tax Consultants. The draft Code brought forward by the government fails to solve the present tax problems. It disagrees with the counter draft on 50 concepts, the variance nearing 85 percent, reported Kim.    
 
As 763 amendments have already been made in the new Tax Code, it seems reasonable to pass it to the Parliament for consideration, suggested Finance Minister Akylbek Japarov.

In the minister’s view, the new Tax Code should hail investors willing to work in our country.
 
The new Tax Code should not only enable larger budget revenues, but also set up procedures for scaling down tax corruption and bringing shadow economy out into the light. Tax burden mustn’t be too heavy, so that business will survive and grow.