The main objectives of the new laws are to improve tax legislation, simplify tax procedures, and create conditions for fair competition and reduce the shadow economy.
Some sources in Kyrgyzstan reported that the government also approved changes requiring all trade and service enterprises to accept cashless payments using bank cards and electronic wallets. To comply, businesses will need to install POS terminals or connect to online payment systems.
There are exceptions for remote and rural areas where digital infrastructure is not as well developed as in cities.
As noted by Kaktus.media, Kubanychbek Isabekov, Deputy Chairman of the State Tax Service, some interpretations of the changes to the Tax Code were incorrect.
He clarified that according to the Government of the KR resolution from 2015 No. 869, a list of activities was approved that obliges individual entrepreneurs and legal entities to install equipment for accepting payments using bank cards.
“This obligation to ensure the possibility of cashless payments through QR codes or POS terminals has existed for a long time. The State Antimonopoly Service of the KR is responsible for monitoring its implementation, but they do not have enough staff for inspections,” Isabekov explained.
The Deputy Chairman also added that the new amendments include fines for those who provide their data as individuals when paying for goods and services.
“The QR code must be registered to a legal entity - entrepreneur,” emphasized Kubanychbek Isabekov.
The following fines are stipulated for this violation:
- for individuals - 20,000 soms;
- for legal entities - 65,000 soms.
- check to whom electronic wallets and other cashless payment methods are registered;
- re-register them to the appropriate individual entrepreneur or legal entity if necessary;
- ensure full compliance with the requirements of legislation in the field of cashless payments.
