of July 7, 2015 No. 455
About approval of the Concept of fiscal policy of the Kyrgyz Republic for 2015-2020 and the Actions plan on implementation of the Concept of fiscal policy of the Kyrgyz Republic for 2015-2020
For the purpose of further enhancement of the pursued fiscal policy and improvement of implementation of measures provided by the National sustainability strategy of the Kyrgyz Republic for 2013-2017 approved by the Presidential decree of the Kyrgyz Republic of January 21, 2013 according to articles 10 and 17 of the constitutional Law of the Kyrgyz Republic "About the Government of the Kyrgyz Republic" the Government of the Kyrgyz Republic decides:
- The concept of fiscal policy of the Kyrgyz Republic for 2015-2020 according to appendix 1;
- The actions plan on implementation of the Concept of fiscal policy of the Kyrgyz Republic for 2015-2020 according to appendix 2.
Approved by the Order of the Government of the Kyrgyz Republic of July 7, 2015 No. 455
This Concept determines measures in the field of fiscal policy which will be realized in 2015-2020 in the Kyrgyz Republic concerning taxes, non-tax payments and insurance premiums on the national social insurance (further - obligatory payments) taking into account the purposes and tasks provided in previous years.
Mission of fiscal policy is ensuring financial safety of the country with the minimum costs for society.
During the period till 2015 conceptual bases of fiscal policy of the Kyrgyz Republic were created by the following documents:
- The concept of enhancement of tax policy in the Kyrgyz Republic approved by the order of the Government of the Kyrgyz Republic of May 29, 2001 No. 255, the resolution of General Court of Jogorku Kenesh of the Kyrgyz Republic of June 26, 2001 No. 410-II;
- The presidential decree of the Kyrgyz Republic "About the Strategy of fiscal reform in the Kyrgyz Republic till 2005" of July 16, 2002;
- The presidential decree of the Kyrgyz Republic "About the Medium-term strategy of enhancement of tax policy in the Kyrgyz Republic for 2006-2008" of April 13, 2006.
Continuation of implementation of measures, provided by the National sustainability strategy of the Kyrgyz Republic for 2013-2017 approved by the Presidential decree of the Kyrgyz Republic of January 21, 2013 will be the main directions of fiscal policy for 2015-2020:
1) improvement of the investment climate;
2) ensuring completeness of taxation;
3) upgrade of tax and customs services;
4) enhancement and automation of system of tax statements, reducing number of reports and streamlining of frequency of their representation;
5) identification and minimization of the factors leading to emergence of system corruption, opening of its authentic social and economic roots, promotion of law-abiding conduct of life, realization of anti-corruption policy of the state in the fiscal sphere.
In general fiscal policy in the average and long term will be directed to stabilization of economy and ensuring the advancing growth rate of revenues of the government budget in comparison with account so that it was possible to reach by the end of the period of systematic overcoming budget deficit.
For the purpose of maintenance of the budget balance the measures directed to increase in the income of the government budget of the Kyrgyz Republic in first-priority procedure on improvement of administration and replenishment of the budget due to subjects and transactions of shadow economy shall be taken.
The stimulating role of fiscal policy directed to diversification, technological updating and upgrade of production, and also increase in competitiveness of economy including within participation of the Kyrgyz Republic in EEU will remain.
Fiscal policy of the country for the last decade significantly changed the main approaches to the taxation and was directed, mainly, to decrease in the tax load.
Dynamics of change of ratio of the amount of the budget receipts from obligatory payments of business to GDP for the period since 2000 is provided in the following chart:
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