President of Kyrgyzstan Sadyr Japarov signed amendments to several legislative acts aimed at reducing the tax burden on the population and businesses in Kyrgyzstan, the presidential press service reported.
The law is aimed at creating a more favorable environment for entrepreneurship, supporting economic stability, and promotion of sustainable development in the country.
Key provisions of the newly signed law include:
1. Abolition of the property tax on vehicles.
2. Zero property tax rate on land classified as agricultural (the rate was valid from January 1, 2022 to December 31, 2024).
3. Ban on tax audits for periods before January 1, 2022, with the following exceptions:
- Unscheduled audit during the liquidation of an organization and the termination of the activities of an individual entrepreneur;
- Tax audits related to the reimbursement and/or refund of the excess VAT amount based on the VAT taxpayer’s application;
- Tax audits related to the tax authority’s acceptance of the taxpayer’s revised tax reporting;
- Unscheduled audit or re-audit scheduled based on the decisions of law enforcement agencies in accordance with the rules stipulated by tax legislation and the Criminal Procedure Code.
4. Tax debt forgiveness for liabilities accrued before January 1, 2022.
5. It is proposed to establish a preferential regime for the fulfillment of the obligation, full or partial exemption from the payment of the accrued tax penalty, as well as the payment of penalties depending on the deadline for paying the full amount of the arrears.
