Investment Council Launches Advisory Group to Address Tax Dispute Mechanism, Improve Investment Climate

Wednesday, 08 May 2024 07:14

As part of efforts to improve the business environment and investment climate in the Kyrgyz Republic, the Investment Council Secretariat has announced the formation of a new Advisory Group on Tax Disputes. The initiative aims to provide an open platform for constructive dialogue among stakeholders to facilitate the development of transparent and equitable tax dispute resolution mechanisms.

The announcement follows a recent meeting between Secretariat officials and executives from Natural Agro, a prominent agribusiness company. Head of the Secretariat Uluk Kydyrbaev and Chief Legal Expert Bakytbek Samakov represented the government, while Natural Agro was represented by General Director Mike Jonathan Lund and Financial Manager Valeria Golinko.

A key issue on the agenda was the inconsistency between Part 7 of Article 169 of the Tax Code of the Kyrgyz Republic and current legal norms, which made dispute resolution difficult. Specific issues included the identification of the competent state body and the clarification of relations in tax disputes.

"Natural Agro” is working with the Chamber of Tax Consultants to analyze and propose changes to the relevant legislation. They also raised issues related to tax registration for agricultural producers and challenges faced by processors during audits.

The newly established advisory group will include representatives from the business community, government agencies and professional associations. By promoting a comprehensive and inclusive dialogue, it aims to strengthen the business environment and investment climate in the Kyrgyz Republic. The group will focus on understanding current mechanisms and proposing fair and alternative approaches to resolving tax disputes, thereby helping to create a climate of confidence for responsible entrepreneurs and investors.