LAW OF THE KYRGYZ REPUBLIC

of August 1, 2020 No. 108

About introduction of amendments to the Tax Code of the Kyrgyz Republic

Accepted by Jogorku Kenesh of the Kyrgyz Republic on June 18, 2020

Article 1.

Bring in the Tax code of the Kyrgyz Republic (Sheets of Jogorku Kenesh of the Kyrgyz Republic, 2008, No. 8, the Art. 922) the following changes:

Part 6 of Article 31 to add 1) with Item 9 of the following content:

"9) tax on mining.";

The Code to add 2) with Chapter of 61 following contents:

"Chapter 61. Tax on mining

Article 396. The concepts and terms used in this Chapter

In this Chapter the following concepts and terms are used:

1) "Virtual asset" - digital expression of cost which is created, stored and addresses in electronic (digital) form as object of the civil laws and is not money (currency), the security or electronic money emitted in accordance with the established procedure.

2) "Mining" - the activities for implementation by means of program technical means of the computing transactions providing functioning of the register of blocks of transactions (blokcheyn) by means of entering into the distributed register (according to in advance determined rules and the principles) information on the transactions made between users requiring providing with continuous electric utility service. The Mining can be followed by creation of the virtual asset arriving in ownership of person performing mining as remuneration for confirmation of making of transactions in the distributed register.

Article 397. General provisions

1. The tax on mining provides obligation to pay this tax concerning the activities which are subject to taxation according to this Chapter, in exchange:

1) income tax;

2) VAT for leviable deliveries;

3) sales tax.

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