Document from CIS Legislation database © 2003-2022 SojuzPravoInform LLC

LAW OF THE KYRGYZ REPUBLIC

of August 14, 2020 No. 125

About debt restructuring on the added percent, penalty fee, to tax sanctions, penalties on insurance premiums

(as amended of the Law of the Kyrgyz Republic of 01.12.2021 No. 145)

Accepted by Jogorku Kenesh of the Kyrgyz Republic on June 25, 2020

The purpose of this Law is stabilization and support of financial and economic condition of taxpayers and payers of insurance premiums on the national social insurance in the conditions of pandemic of koronavirusny infection of COVID-19 by debt restructuring on the added percent, penalty fee, to tax sanctions, penalties on insurance premiums on the national social insurance.

Article 1. General provisions

1. Restructurings the tax debt, including the tax debt on value added (further - the VAT) for import is subject, to the excise tax for import, levied by customs authorities, and debt on insurance premiums on the national social insurance of taxpayers and payers of insurance premiums on the national social insurance according to the procedure and on the conditions provided by this Law.

2. In this Law the following concepts are applied:

1) insurance premium - payment for the national social insurance which the insurer shall bring to the insurer;

2) restructuring of tax debt and debt on insurance premiums - complete or partial debt write-off on the added percent, penalty fee, to tax sanctions, penalties on insurance premiums;

3) percent - the amounts added according to the Tax code of the Kyrgyz Republic for untimely payment at the scheduled time of taxes;

4) penalty fee - the sum of money added for failure to pay taxes, including the VAT for import, the excise tax for import, insurance premiums which the taxpayer shall pay according to the Tax code of the Kyrgyz Republic, the laws of the Kyrgyz Republic "About customs regulation" and "About the national social insurance";

5) tax sanctions - the sanctions imposed on the taxpayer according to the Tax code of the Kyrgyz Republic;

6) penalty - penalties, including the financial and other sanctions imposed on payers of insurance premiums according to the Law of the Kyrgyz Republic "About the national social insurance";

7) the payer - the taxpayer and the payer of insurance premiums.

Article 2. Procedure for restructuring of tax debt

1. Taxpayers are exempted from the obligations of payment of penalty fee and tax sanctions added for untimely and (or) incomplete tax payment, formed as of July 1, 2020 by their write-off in the following amounts and cases:

1) 100 percent - in case of complete repayment of the main debt on the main amounts of taxes till July 1, 2022;

2) 50 percent - in case of complete repayment of the main debt on the main amounts of taxes till December 31, 2022.

2. To the taxpayers who do not have debt on the main amounts of taxes (including the VAT for import and the excise tax) as of July 1, 2020 or on the first in which this Law was officially published the amounts of percent, tax sanctions and penalty fee of 100 percent are written off.

2-1. Taxpayers have the right to write off debt on percent, penalty fee and to the tax sanctions added on the amounts of the taxes accrued after July 1, 2020 by results of tax audit or provision by taxpayers of the specified reports for tax periods till July 1, 2020 on condition of complete repayment of the main amount of taxes according to the procedure and the terms established by this Article.

3. After carrying out restructuring the payer has the right to extend debt rest payment due dates according to requirements of the Tax code of the Kyrgyz Republic.

4. Repayment date the restructured debt is considered:

1) on the main amounts of taxes - day of delivery in bank of the payment order on transfer of receivable tax amounts and/or day of introduction for transfer of receivable tax amounts of cash into bank if money came to the budget;

2) on the main VAT amounts for import, the excise tax for import - day of cash receipt on the corresponding settlement account of the Central Treasury of the Ministry of Finance of the Kyrgyz Republic.

5. The amount of excessively paid tax, including the VAT for import, the excise tax for import on debt of the payer, is used in the following procedure: the debt on separate tax, then on percent, penalty fee, to the tax sanctions added on this tax according to requirements of the Tax code of the Kyrgyz Republic, the Law of the Kyrgyz Republic "About customs regulation" and other legal acts regulating rates of taxes and their administration is repaid.

6. The amount of excessively paid tax for the purpose of repayment of the restructured tax debt does not join the excess amount on the VAT.

7. In case of entry into force of court resolution about debt collection on the added percent, penalty fee, to tax sanctions before entry into force of this Law these amounts are not subject to write-off. Before adoption by judicial authorities of the decision on debt collection on the added percent, penalty fee and to tax sanctions these amounts are subject to restructuring in case of complete debt repayment on the main amounts of taxes according to the procedure and the terms established by this Law.

In case of cancellation of the court resolution which is taken out for benefit of authorized tax authority, its territorial and/or functional subdivision according to the procedure of review on newly discovered facts (after entry into force of this Law) the added percent, penalty fee and tax sanctions are subject to write-off from coming into force of the judgment on review of court resolution on newly discovered facts according to the procedure and the terms established by this Law.

Article 3. Procedure for debt restructuring on insurance premiums

1. Payers of insurance premiums on the national social insurance are exempted from the obligations of payment of penalty fee and penalties added for untimely and (or) incomplete payment of the insurance premiums formed as of July 1, 2020 by their write-off in the following amounts and cases:

1) 100 percent - in case of complete repayment of the main debt on insurance premiums till July 1, 2022;

2) 50 percent - in case of complete repayment of the main debt on insurance premiums till December 31, 2022.

2. To the payers of insurance premiums who do not have the main debt on insurance premiums as of July 1, 2020, penalty fee and penalties are written off of 100 percent.

2-1. Payers of insurance premiums have the right to write off debt on the penalty fee and penalties added on the amounts of the insurance premiums assessed after July 1, 2020 by results of tax audit or provision by payers of insurance premiums of the specified reports for the accounting periods till July 1, 2020 on condition of complete repayment of the main amount of insurance premiums according to the procedure and the terms established by this Article.

Warning!!!

This is not a full text of document! Document shown in Demo mode!

If you have active License, please Login, or get License for Full Access.

With Full access you can get: full text of document, original text of document in Russian, attachments (if exist) and see History and Statistics of your work.

Get License for Full Access Now

Disclaimer! This text was translated by AI translator and is not a valid juridical document. No warranty. No claim. More info

Effectively work with search system

Database include more 50000 documents. You can find needed documents using search system. For effective work you can mix any on documents parameters: country, documents type, date range, teams or tags.
More about search system

Get help

If you cannot find the required document, or you do not know where to begin, go to Help section.

In this section, we’ve tried to describe in detail the features and capabilities of the system, as well as the most effective techniques for working with the database.

You also may open the section Frequently asked questions. This section provides answers to questions set by users.

Search engine created by SojuzPravoInform LLC. UI/UX design by Intelliants.