Kyrgyzstan can possibly obtain $3.432 billion through the Kumtor project, resources at the White House informed.
The Prime Minister of Kyrgyzstan Igor Chudinov told Kurmanbek Bakiev about settling of all disputable issues on Kumtor. Representatives of the Kumtor Gold Company and Centerra Gold Incorporation together with Kyrgyzstan initialed the tripartite agreement in Moscow one of these days.
According to the agreement, Kumtor Company will pay the republic 18 percent of taxes, including income, sales, value-added and excise taxes, customs fees and social fund charges.
The sides have also reached agreement on Kyrgyzstan’s holding 33 percent of the shares instead of the previous 15.7 percent.
The Kumtor Company will pay off the tax charges for the period since January 1, 2008, while Kyrgyz budget will be enriched with other $22,442 million in form of a one-time payment. The largest foreign enterprise in the Kyrgyz Republic will work according to the Kyrgyz legislation.
The special session of government to approve the initiated agreement will be held shortly. After that the agreement should be sent for parliament’s ratification until April 30, 2009.
