The Ministry of Economy announced that it is accepting applications for inclusion in the Register of Honest Entrepreneurs

The Ministry of Economy has announced that it is now accepting applications from businesses for inclusion in the official Register of Good Faith Entrepreneurs. This government initiative aims to create a kind of ‘white list’ of companies and individual entrepreneurs who operate transparently, pay taxes and comply with the law.

Inclusion in the register will allow businesses to count on a number of preferences from the state: exemption from most inspections for three years, priority service from tax authorities, participation in international exhibitions and forums at the expense of the state, free airtime on state channels for advertising, as well as access to preferential financing under state programmes.

Companies and entrepreneurs that have been operating in the market for at least three years, have no debts to the budget, pay taxes and insurance contributions on time, provide decent working conditions for their employees, and show an annual increase in tax payments of at least 5% are eligible to apply. An impeccable reputation is also important — management must have no criminal convictions for economic crimes.

Applications are being accepted until 5 August through the Chamber of Commerce and Industry. The decision on inclusion in the register will be made by an interdepartmental commission.

In essence, the register should become another element of support for law-abiding businesses in Kyrgyzstan. Against the backdrop of frequent discussions in the country about tax discipline and the fight against the grey market, the authorities are betting on encouraging those who work ‘in the black’.

Several large companies are already listed in the register, including Coca-Cola Bishkek Bottlers CJSC, Demir Kyrgyz International Bank CJSC and Alliance Altyn LLC.