Parliament of Kyrgyzstan passed the bill on reducing the tax burden for the population and business entities in the second and third readings.
The document has been sent to the President for signature.
The draft law writes off tax arrears:
— Accrued for tax periods before January 1, 2022;
— Accrued for tax periods before January 1, 2025 for property tax on vehicles;
— For payers of insurance premiums for state social insurance, arrears in penalties, fines and financial sanctions in the absence of or upon payment of the principal debt.
The draft law also provides for:
- Abolition of transport tax;
- Tax benefits for agricultural land;
- A ban on inspections of small business entities;
- Simplification of the procedure for traveling abroad for debtors;
- Introduction of a license system for individual entrepreneurs engaged in trade activities.
As noted, these measures are aimed at developing small businesses to the level of medium-sized enterprises, and medium-sized businesses to the level of large enterprises.
More details about the proposed changes can be found at the link.