Kyrgyzstan to reduce income tax by 6 times - Ministry of Economy

Bishkek, May 17, 2019. /Kabar/. Reducing of income tax by 6 times is planned in Kyrgyzstan, Dastan Kadyrov, the Deputy Minister of Economy told during the press conference at Kabar News Agency.
He said that the ministry has developed a draft law to this effect, which is under consideration by the government. "The purpose of the bill is to liberalize the economy in order to attract large capital and international financial institutions by creating acceptable conditions for financial (trade) transactions, both in terms of reducing the tax burden and providing a supporting document using the territorial principle of taxation," Kadyrov said.
According to his data, the changes made open a platform for international trade and create conditions for local entrepreneurs to enter foreign markets. "The amount of profit tax will be 3% instead of 10% in accordance with the proposed draft law. At the same time, the tax on dividends will amount to 0%. As a result, the total amount of taxes paid to the state budget will be only $150 ($5,000 *3%), which is 6 times lower than the current tax burden," Kadyrov said.