Kyrgyzstan to record increase in tax revenues

Kyrgyzstan Materials 1 July 2022 12:13 (UTC +04:00)
Aygun Maherramova
Aygun Maherramova
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BAKU, Azerbaijan, July 1. Kyrgyzstan is on a path to record an increase in tax revenues by the end of 2022, said President of Kyrgyzstan Sadyr Japarov on July 1 during a solemn event dedicated to the Day of the country's tax worker, Trend reports via press service of the Kyrgyz president.

"By the end of 2022, tax revenues are estimated at 155.6 billion soms ($1.9 billion), which is 50 billion soms ($628.9 million) more compared to 2021 (105.7 billion soms, or $1.3 billion)," the president said.

According to him, despite the current difficult economic and financial conditions, Kyrgyzstan plans to achieve stability by increasing tax revenues to the country's state budget.

"Currently, our main priorities are combating inflation and ensuring positive dynamics of economic growth. To solve these problems, we must take measures to attract investment, create the most favorable conditions for doing business," Zhaparov said.

Meanwhile, the new Tax Code of Kyrgyzstan, came into force on January 1, 2022, which provides opportunities for creating a favorable investment climate, is aimed at supporting the export of domestic products to foreign markets.