BISHKEK, Kyrgyzstan, February 13. Kyrgyz President Sadyr Zhaparov has signed a law amending various tax legislation to simplify tax administration and foster fair competition, Trend reports via the administration of the president.
Adopted by the parliament on December 26, 2024, the law aims to improve the tax system, reduce the shadow economy, and enhance economic transparency.
Key changes include the abolition of the unified tax declaration for certain individuals, improvements to tax exemption processes, and a new procedure for collecting tax debt. The law also introduces new rules for VAT refunds and extends certain tax exemptions, including for special goods imported to support people with disabilities.
The law also modifies the Kyrgyz Code of Administrative Violations, increasing fines for trading excise goods without proper markings and enforcing stricter rules for transport operators handling goods with navigation seals.
These amendments came into force on January 1, 2025, with specific provisions having later effective dates. The changes are set to cut through the red tape, lighten the load for businesses, and give the economy a much-needed shot in the arm.
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