RESOLUTION OF BOARD OF THE STATE COMMITTEE OF THE KYRGYZ REPUBLIC ON MANAGEMENT OF THE STATE-OWNED PROPERTY AND TO ATTRACTION OF DIRECT INVESTMENTS

of July 3, 2003 No. 34-PK

About approval of the Instruction "About procedure for charge of the rent for use of state-owned property when using method of privatization of lease with the subsequent redemption"

According to Regulations on privatization of state-owned property by lease method with the subsequent redemption approved by the order of the Government of the Kyrgyz Republic of March 26, 2003 No. 168 "About approval of the provisions regulating privatization of state-owned property" Board decides:

1. Approve the Instruction "About procedure for charge of the rent for use of state-owned property when using method of privatization of lease with the subsequent redemption".

2. Declare invalid the resolution of the State Property Committee of the Kyrgyz Republic of May 16, 2003 No. 17-pk "About approval of the Instruction "About procedure for charge of the rent for use of state-owned property when using method of privatization of lease with the subsequent redemption".

3. Recognize invalid the Instruction for transformation of the companies through the lease with the subsequent redemption approved by the order of the State property fund of the Kyrgyz Republic of February 3, 1999 No. 21-p and registered in the Ministry of Justice of the Kyrgyz Republic of February 8, 1999 No. 13.

4. In 10-day time to direct to control legal department this resolution to registration in the Ministry of Justice of the Kyrgyz Republic.

5. To provide to department of organizational and personnel work with this resolution all structural divisions of the State Property Committee after registration it in the Ministry of Justice of the Kyrgyz Republic.

6. To impose control of execution of this resolution on the Vice-chairman Dzhamakeev T. D.

Approved by the Resolution of Board of the State Property Committee of July 3, 2003 No. 34-pk

The instruction about procedure for charge of the rent for use of state-owned property when using method of privatization of lease with the subsequent redemption

This Instruction is developed according to the Civil code of the Kyrgyz Republic, Item 15 of the Regulations on privatization of state-owned property by lease method with the subsequent redemption approved by the order of the Government of the Kyrgyz Republic of 26.03.2003 No. 168, and other regulations governing the rent relations. The instruction determines procedure for charge of the rent when using method of privatization of lease with the subsequent redemption.

The annual rent for use of state-owned property, when using method of privatization of lease with the subsequent redemption, is determined by formula:

where:

Sofas - estimated value of property of the company, including the cost of the parcel of land;

The estimated value of property of the company, including the cost of the parcel of land, is determined according to the order of the Government of the Kyrgyz Republic of March 19, 2003 No. 143 "About approval of methodical recommendations about value assessment of property of subjects to privatization".

Pi - inflation percent - is determined in the annual joint statement of the Government of the Kyrgyz Republic and National Bank of the Kyrgyz Republic on social and economic and financial policy the current year;

Pu - discount rate of National Bank of the Kyrgyz Republic.

Pchr - 3% per annum as part of profit which can be received from use of the leased property. Pchr is accepted equal to net profitability of equity of the company (the relation of annual net profit to equity size expressed as a percentage) if the last exceeds 3%.

The amount of the annual rent is deposited quarterly to account the State Property Committee by equal payments.

The rent for use of state-owned property cannot be lower than the size of the rent calculated according to this Instruction.

The received amount of the rent is the initial amount of the rent of subjects to privatization when carrying out tender on transfer to lease with the subsequent redemption.

When leasing real estate (its part) of the organizations financed by means of the government budget, taxpayer on real estate is the lessee. At the same time the non-personal tax is levied and transferred into the budget by the organization leasing this property (its part).

Disclaimer! This text was translated by AI translator and is not a valid juridical document. No warranty. No claim. More info