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RESOLUTION OF THE CABINET OF MINISTERS OF THE KYRGYZ REPUBLIC

of March 11, 2022 No. 125

About measures for implementation of Articles 67, 330 Tax codes of the Kyrgyz Republic

For the purpose of implementation of Articles 67, 330 Tax codes of the Kyrgyz Republic, article 18 of the Law of the Kyrgyz Republic "About enforcement of the Tax code of the Kyrgyz Republic", according to articles 13, of the 17th constitutional Law of the Kyrgyz Republic "About the Cabinet of Ministers of the Kyrgyz Republic" the Cabinet of Ministers of the Kyrgyz Republic decides:

1. Approve:

1) the Accounting treatment for the foreign currency received from the foreign organization which does not have signs of permanent organization in the Kyrgyz Republic according to appendix 1;

2) Regulations on procedure and terms of return of the value added tax according to the international obligations of the Kyrgyz Republic according to appendix 2.

2. Recognize invalid:

1) the paragraph third Item 1 of the order of the Government of the Kyrgyz Republic "About measures for implementation of requirements of Articles 98, 242, 255, 257, 258, 280, 281, 287 and 295 Tax codes of the Kyrgyz Republic and article 11 of the Law of the Kyrgyz Republic "About enforcement of the Tax code of the Kyrgyz Republic" of December 30, 2008 No. 735;

2) the order of the Government of the Kyrgyz Republic "About modification of the order of the Government of the Kyrgyz Republic "About measures for implementation of requirements of Articles 98, 242, 255, 257, 258, 280, 281, 287 and 295 Tax codes of the Kyrgyz Republic and article 11 of the Law of the Kyrgyz Republic "About enforcement of the Tax code of the Kyrgyz Republic" of December 30, 2008 No. 735" of April 21, 2021 No. 160.

3. This resolution is subject to official publication and becomes effective since January 1, 2022.

Chairman of the Cabinet of Ministers of the Kyrgyz Republic

A. Zhaparov

Appendix 1

to the Resolution of the Cabinet of Ministers of the Kyrgyz Republic of March 11, 2022 No. 125

Accounting treatment for the foreign currency received from the foreign organization which does not have signs of permanent organization in the Kyrgyz Republic

1. Order of registration, calculations and execution of the tax liability by the foreign organization which does not have signs of permanent organization in the Kyrgyz Republic

1. This Procedure determines accounting treatment for the foreign currency received from the foreign organization which does not have signs of permanent organization in the Kyrgyz Republic on account of execution of the tax liability.

2. The foreign organization which does not have signs of permanent organization in the Kyrgyz Republic has the right to fulfill the tax liability in foreign currency.

3. According to part 4 of article 28 of the Tax Code of the Kyrgyz Republic (further - the Tax code) the concept "Permanent Organization" does not include rendering services by the foreign organization electronically without use of the domain name or the IP address registered in the Kyrgyz Republic which place of delivery the territory of the Kyrgyz Republic is recognized (further - the foreign organization).

4. Tax registration of the foreign organization is performed based on the application directed through electronic service of the information resource posted on the official website of authorized tax authority.

5. The application for tax registration is submitted in electronic form through information resource, prior to supply activity. The foreign organizations are subject to tax registration without passing of state registration.

6. The tax rate on value added (further - the VAT) is established in the amount of 12 percent concerning deliveries by the foreign organization.

7. Tax base is rendering electronic services by the foreign organization which place of delivery the territory of the Kyrgyz Republic is recognized. Date of determination of tax base is the last day of tax period in which payment (partial payment) for service arrived, when rendering electronic services by the foreign organization which place of delivery the territory of the Kyrgyz Republic is recognized.

8. Tax period in case of calculation of the VAT is - calendar quarter.

9. The term of submission of tax statements - no later than the last day of the month following reporting quarter.

Payment due date of the tax liability - no later than the 25th following reporting quarter.

10. The foreign organization represents tax statements and fulfills the tax liability for choice in foreign currency (US dollar, euro, Russian ruble, the Kazakh tenge) or in national currency (the Kyrgyz som) through information resource.

11. The tax discharge is performed on element of the income of Budget classification of the income of the Kyrgyz Republic - "11 411 500 (The value added tax to electronic services of the foreign organizations)".

2. Accounting of the arrived tax in foreign currency in the Central Treasury of the Ministry of Finance of the Kyrgyz Republic

12. For the purpose of accumulation of foreign currency cash on account of execution of the tax liability from the foreign organizations the Central Treasury of the Ministry of Finance of the Kyrgyz Republic (further - Treasury) determines and opens the multiple currency account in authorized bank by types of the foreign currencies specified in Item 10 of this Procedure.

13. Completion date of the tax liability is day of adoption of the payment order by bank on transfer of receivable tax amounts by the foreign organization in foreign currency.

14. The authorized bank makes converting and transfer into the accumulative account of tax authority no later than the working day following behind day of transfer of tax on the multiple currency account.

Converting is made on the official rate of the National Bank of the Kyrgyz Republic established on the date of converting of foreign currency to national currency.

3. Accounting treatment for execution of the tax liability in tax authority

15. Control of execution of the tax liability by the foreign organization is exercised by the tax authority determined by authorized tax authority (further - tax authority).

16. The tax liability according to tax statements of the foreign organization (in foreign currency) is subject to converting in national currency (the Kyrgyz som) on the official rate of National Bank of the Kyrgyz Republic established the last day of the accounting period.

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