The State Tax Service of the Kyrgyz Republic has announced that the deadline for the legalization of jewelry items that were imported or produced without primary documents ends on March 1. There are only 16 days left to complete this procedure.
The agency noted that this initiative allows entrepreneurs to avoid liability and obligations as a tax agent. Legalized items will be subject to a reduced assay fee rate during testing and stamping.
For jewelry made of gold, platinum, and palladium, both domestic and imported, including used items, the fee is 10 soms for each item. For silver items, the rate is set at 8 soms per unit.
To legalize the items, taxpayers must submit an electronic document through the electronic invoice system on this website by the specified deadline. In the system, you need to go to the "Acquisition" section, select the DPBU subsection, and click the "Add" button. Then, you should fill in the information about the precious jewelry items, indicating their name, weight, quantity, and fineness.
After selecting the option, the main details will be generated automatically, and the user will only need to complete the product information. The product codes must correspond to the unified Commodity Nomenclature of Foreign Economic Activity of the Eurasian Economic Union. It is also recommended to specify the type and fineness of the item, for example, a gold ring of 585 fineness or silver earrings of 925 fineness.
In each product line, you need to indicate the unit of measurement, quantity, price per unit, and total cost. Please note that the product name must be previously added to the directory in the "Profile" section, subsection "Goods and Services".
The tax service indicated that the electronic document cannot be changed or canceled, so all data must be entered correctly and completely.
After submitting the information into the system, taxpayers must contact the GNS Department responsible for precious metals to undergo the testing and stamping procedure for the items.
Furthermore, according to the decision of the Cabinet of Ministers, the voluntary patent for this category of activity has been canceled. Now, entrepreneurs working with precious metals and jewelry are required to apply a simplified taxation system with a rate of 0.25% and use cash register machines.
