The Federal Tax Service and banks discussed the introduction of a transaction tax

The tax rate has been halved, and banks will act as tax agents

At a meeting organized by the State Tax Service, issues regarding changes to tax legislation were discussed with the participation of representatives from banks and the Union of Banks of Kyrgyzstan. The press service of the GNS reported this.

During the meeting, it was emphasized that according to the law coming into effect on December 31, 2025, the transaction tax will be reduced from 0.2% to 0.1%. Participants also discussed joint efforts to automate tax administration and implement electronic services for effective interaction between the GNS and banks.

Representatives of the Tax Service clarified that banks where accounts are opened will perform the functions of tax agents and will independently withhold the tax during transactions, transferring it to the state budget.

It is important to note that organizations conducting transactions have the right to apply only the special tax regime "Transaction Tax," and any other activities in the country in this context are prohibited.

Taxpayers must submit an application for the application of this regime by February 1, 2026, at their place of tax registration.

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