The Tax Service explained how debt write-offs work through banks

Яна Орехова Economy
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The Tax Service explained how debt write-offs work through banks


The public discussion regarding the mechanism of automatic tax write-offs in Kyrgyzstan continues. The State Tax Service has provided clarifications on this matter concerning debtors.

The agency noted that the auto-write-off procedure applies only to those citizens who have outstanding debts and represents a last resort in the collection process. Before initiating the write-off, two notifications are sent to the debtor, after which they have the opportunity to settle the debt or dispute the amount within 60 days.

If the debtor does not respond to the notifications and misses the established deadlines, a payment demand is sent to the bank.

Additionally, the tax service emphasized that they do not have access to citizens' bank accounts, and the withdrawal of funds is carried out in accordance with the established procedure for interaction with financial institutions.
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