Parliament approves amendments to Tax Code in second, third readings

Parliament of Kyrgyzstan approved amendments to the Tax Code in the second and third readings.

At least 63 deputies voted for the adoption of the bill in the third reading, and one voted against.

In particular, the document provides for:

Use of cash registers and electronic consignment notes and the introduction of electronic invoices for all entrepreneurs;

Exemption of sellers whose annual turnover does not exceed 8 million soms from tax payments;

Establishing a 0.5 percent tax for businessmen whose annual turnover does not exceed 30 million soms;

Establishing a 0.1 percent tax for entrepreneurs in markets whose annual turnover does not exceed 100 million soms;

Postponing the introduction of fines for non-use of electronic consignment notes for six months;

Setting the tax rate for catering outlets in the regions at 4 percent;

Increase in excise tax on all types of tobacco products.

Economy Minister Daniyar Amangeldiev thanked the deputies and expressed his hope that the amendments to the Tax Code would help entrepreneurs.

The document will come into force after signing by the President.

Source: News Agency