Terms of writing off accrued penalties, sanctions and fines in payment of the principal amount of tax and insurance fee arrears have been expended, the State Tax Service of Kyrgyzstan reports.
According to the law dated December 1, penalties, sanctions and fines will be written off by 100% for those citizens, who will pay off the principal amount of tax and insurance fee arrears until July 1, 2022, and by 50% – for those who will pay off the principal amount of debt until December 31, 2022.
The debts formed before July 1, 2020 are subject to restructuring.
Previously, payers were able to write off accrued penalties, sanctions and fines by 100% until July 1 and by 50% – until December 31.
“Under the law, payers also have the right to writing off penalties, sanctions and fines arrears accrued on the amounts of taxes and insurance fees after July 1, 2020 based on the results of a tax audit or submission by the payers themselves of revised reports for tax periods before July 1, 2020, provided that the principal amount of taxes and insurance fees is fully repaid. This campaign will stabilize and support the financial and economic situation of taxpayers. For restructuring of the tax and insurance fees arrears, one should apply to the tax authority at the place of registration,” the State Tax Service said. (24.kg/Business World Magazine)
