Comments on the statement of the KR Finance Minister

Comments on the statement of the KR Finance Minister

published: 16 December 2021

We are extremely surprised that the employees of the KR Ministry of Finance do not provide their minister with complete information. In fact, Almaz Baketaev informed only about the tax on gross income, which is 13 percent of the gold sales proceeds, and he did not provide any information about all other taxes paid already to the budget of the Kyrgyz Republic.

Commenting on the information provided by the Ministry of Finance, we confirm that for 11 months of this year the tax on gross income is paid in the amount of KgS 6 billion 998 million, instead of planned KgS 6 billion 916 million. It is obvious that the Company has exceeded the plan even in this type of budget payments. In total for 11 months we have paid taxes in the amount of KgS 11 billion 714 million, including social deductions, instead of KgS 8 billion 2 million planned for the same period.

We would like to inform those who fault Kumtor for nonfulfilling the plan, who gloat and try to promote themselves on behalf of the Company, that by the end of the year we are planning to exceed the plan by 1.5 times and to pay taxes over KGS 13 billion.

The Company will publish a full year-end report in the beginning of next year, where everyone will get answers to their questions of concern. “Kumtor Gold Company” would like to thank the people of Kyrgyzstan who, unlike some politicians, parliament mebmers and stakeholders, showed understanding, support and patriotism in the issue of mine return to the country. The most important wealth of Kyrgyzstan is its people!