The State Tax Service of Kyrgyzstan (STS) has reminded entrepreneurs that using e-wallets and QR-payment accounts registered to third parties is prohibited. Such actions are considered a violation of the law and may be used to conceal income.
According to the STS, all cashless payment tools must be registered directly to the individual entrepreneur or legal entity. Using wallets registered to relatives or other individuals is strictly prohibited.
Consequences of violations:
Breach of the law: using someone else’s wallet allows for underreporting taxes, contributes to the shadow economy, and violates principles of fair competition.
Fines: penalties are set for such violations — 20,000 soms for individuals and 65,000 soms for legal entities.
The STS urges entrepreneurs to check who their e-wallets are registered to and, if necessary, re-register them to avoid fines and ensure compliance with the law.
