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LAW OF THE KYRGYZ REPUBLIC

of December 4, 2020 No. 5

About voluntary declaring of property and the income by physical persons

Accepted by Jogorku Kenesh of the Kyrgyz Republic on November 5, 2020

Article 1. The relations regulated by this Law

1. This Law governs the public relations connected with voluntary declaring of the property created and/or acquired for the income account, the physical persons having the subjects to voluntary declaring in the Kyrgyz Republic received till January 1, 2020.

2. Persons specified regarding 1 this Article are customs applicants.

Article 2. Purposes and coverage of this Law

1. The purposes of this Law are attraction of property and the income in legal economic circulation, establishment of guarantees of immunity of the declared property and the income, guarantees of immunity of persons participating in process of voluntary declaring of property and the income and observance of mystery of process of voluntary declaring of property and the income.

2. The purposes of this Law are implemented through provision to customs applicants of opportunity to fulfill without payment obligations on obligatory payments concerning income gained till January 1, 2020 including at the expense of which subjects to voluntary declaring were acquired. Treat the specified obligatory payments:

1) taxes;

2) customs payments;

3) penalties, percent and penalty fee on the taxes connected with receipt of the income including at the expense of which subjects to voluntary declaring, and also with subjects to voluntary declaring were acquired;

4) assignments on social insurance.

3. This Law is not applied in the relation:

1) person on whom before date of assurance of the declaration on voluntary declaring of property and the income production about violation and/or case of pre-judicial production on criminal cases and offenses is open and/or judicial proceedings for crime execution in the sphere of economy are begun;

2) obligatory payments in the budget on which before start date of term of voluntary declaring the reporting was provided or which are in addition added by results of checks according to the legislation of the Kyrgyz Republic, but obligations on which were not fulfilled;

3) the money which is not placed on the account of the customs applicant in bank of the Kyrgyz Republic or foreign bank before date of assurance of the declaration on voluntary declaring of property and the income;

4) subject to voluntary declaring, the property right to which is challenged judicially or it is not drawn up according to the legislation of the Kyrgyz Republic on the customs applicant for date of assurance of the declaration on voluntary declaring of property and the income;

5) income gained in the criminal way against the personality and on the facts of financing of terrorist activities concerning which the judgment took legal effect.

4. The restrictions set by Items 1, 2 and 4 parts 3 of this Article do not extend to persons who earlier in accordance with the established procedure finished the procedure of voluntary declaring according to the Law of the Kyrgyz Republic "About preparation for representation by citizens of the Kyrgyz Republic of the single tax declaration", at the same time to specified persons the state guarantees, the stipulated in Article 11 these Laws are applied to subjects to declaring.

Article 3. The basic concepts used in this Law

1. In this Law the following basic concepts are used:

1) the declaration on voluntary declaring of property and the income (further - the declaration) - the document completed in the single copy, having individual sequence number which after assurance by the authorized officer confirms the fact of voluntary declaring of property and the income and recognition performed obligations on obligatory payments in the budget according to the procedure provided by this Law;

2) voluntary declaring of property and the income (further - voluntary declaring) - the actions connected with declaring of the rights to subjects to voluntary declaring according to the procedure, provided by this Law;

3) declaration threshold - the declared cumulative amount of property value and the income in the amount of 70000000 (seventy million) som;

4) personal and real estate - the property determined according to the Civil code of the Kyrgyz Republic;

5) customs applicants - the physical persons determined in article 23 of the Tax Code of the Kyrgyz Republic, which fulfilled obligations according to the procedure, established by this Law. These persons find the status of the customs applicant from the date of receipt of the certified declaration in the authorized officer;

6) subject to declaring - property and income gained and/or which are both in the territory of the Kyrgyz Republic, and beyond its limits, earlier not drawn up (not declared) according to the procedure, determined by the legislation of the Kyrgyz Republic, and/or drawn up on other faces, and also drawn up by the customs applicant at the cost specified in the agreement on acquisition of rights this property other than actually paid (real) acquisition value;

7) the register of declarations on voluntary declaring of property and the income - the register which creates and conducts the authorized officer;

8) the authorized officer - the notary public certifying the declaration according to the procedure, provided by this Law.

2. The declaration form, procedure for its filling and assurance, form of the register of declarations on voluntary declaring of property and the income, the qualifier of subjects to voluntary declaring affirm the Government of the Kyrgyz Republic.

Article 4. Term and period of voluntary declaring

1. The term of voluntary declaring is the period of time from January 1, 2021 to December 31, 2021 inclusive during which the customs applicant can address the authorized officer for voluntary declaring according to requirements of this Law.

2. The period of voluntary declaring is the period of time till January 1, 2020 inclusive during which income at the expense of which the property which is subject to voluntary declaring according to this Law was created and/or acquired were gained.

Article 5. Obligations for voluntary declaring

1. Obligations for voluntary declaring consist from:

1) payments of cost of the declaration form which shall not exceed costs of expenses on its production;

2) the state fee for making of notarial actions;

3) if the amount of cost of subjects to voluntary declaring exceeds declaration threshold irrespective of the excess amount at the choice of the customs applicant:

- introduction of money in the amount of 1% of the project cost of declaring or;

- introduction of money for acquisition of government securities with circulation period of 7 years in the amount of 10% of declaring project cost from annual 5% profitability to the customs applicant.

2. In case of giving by the customs applicant for assurance of the specified declaration are subject to payment:

- cost of the declaration form;

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