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Deputies offer to amend law on civil service and allow civil servants to own securities.

Members of the Parliament offer amendments to the law on civil service. To date, Kyrgyz citizens when entering the civil service are prohibited from owning shares, other securities and stakes in authorized capital of organizations. However, proponents of the bill believe that these restrictions are not advisable. The deputies said that in many countries civil servants are entitled to hold securities and stakes in the authorized capitals. In Kyrgyzstan, possession of securities and stakes in the authorized capital of organizations and receiving dividends from such participation is considered as business activity. However according to paragraph 4 of Article 1 of the Civil Code of Kyrgyz Republic, an independent business activity undertaken at own risk, aimed at obtaining profit by persons registered as such in accordance with the law. Moreover, in accordance with Articles 167, 189 of the Tax Code ofKyrgyz Republic, dividends from such participation are not taxed, since they are paid to shareholders. Any citizen may acquire shares or other securities, shares in the authorized capital of organizations and such participation does not make them entrepreneurs, the deputies said. In this regard, it was proposed to introduce rules providing civil servants with the right to own shares and other securities. The initiators of the bill are Zamir Bekboyev (Ar-Namys), Eristina Kochkarova (Ar-Namys), Mayramkul Tilenchiyeva (Ar-Namys), Alla Izmalkova (SDPK), Marat Sultanov (Ata-Jurt), Mirlan Bakirov, Muradyl Mademinov (SDPK) and Hadzhimurat Korkmazov.

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Publication:AKIpress News Agency
Date:Feb 12, 2014
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