IFC: Kyrgyzstan should reduce regulatory impact on business

Kyrgyzstan should continue working on reduction of regulatory impact on business and improve tax administration. The statement was voiced by the International Finance Corporation, which has studied business environment in Kyrgyzstan, on Thursday at a session of the Investment Council under the President of Kyrgyzstan.

“Despite decline in their number, business check-ups are held regularly. Therewith, businessmen’s risk of tax non-payment is not taken into account. In Germany, for example, taxmen inspect small business entrepreneurs every 10 years, while our tax officers make it every year,” Vsevolod Paevsky IFC Project Manager in Kyrgyzstan said.

As to the expert, Kyrgyzstan’s level of licensing is very high. “More than a half of small and medium business representatives require licenses. Single window principle is not completely elaborated. According to the legislation, business registration takes an entrepreneur several days while in fact it requires about 30,” the project manager added.