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Bishkek, Oct. 22, 2018. /Kabar/. The Ministry of Economy presents a draft decree on amending some decisions of the Government of the Kyrgyz Republic on Approval of Tax Reporting forms on Value Added Tax and Excise Tax, Procedure for Filling and Submission datIt is proposed to exempt businesses in Kyrgyzstan processing local agricultural products from 30 to 80% VAT
Bishkek, Oct. 22, 2018. /Kabar/. The Ministry of Economy presents a draft decree on amending some decisions of the Government of the Kyrgyz Republic on Approval of Tax Reporting forms on Value Added Tax and Excise Tax, Procedure for Filling and Submission dated July 14, 2015 No. 491 for public discussion. According to the justification certificate, the purpose and objective of this draft decree is to bring the value-added tax report form and the procedure for filing and submitting the value-added tax report, approved by the above-mentioned government decree, as well as bring the uniform tax declaration forms into line with the requirements of the Tax Code of Kyrgyzstan (hereinafter - the Tax Code). In connection with the adoption by the Jogorku Kenesh of the Law of the Kyrgyz Republic on Amendments to the Tax Code of the Kyrgyz Republic dated June 27, 2018 (hereinafter referred to as the Law), amendments were made to Article 276 of the Tax Code providing for a change in the amount of reduction of the tax liability for VAT for entities engaged in industrial processing of agricultural products of domestic production from 35% to 80%, supplementing Article 239 of the Tax Code with paragraphs 6 and 7 regarding the release of supplies of agricultural products and processed products derived from agricultural producers and agricultural cooperatives, and the machine-tractor station from the agricultural trade and logistics center to agricultural producers and agricultural cooperatives, it became necessary to conform to the accepted Law of sub-law normative legal act. This government draft decree provides for amending the form of the value added tax report (FORM STI - 062), including the form of appendix 01 to the value added tax report (FORM STI - 062 - 001) and the procedure for completing and submitting report on the value added tax in terms of changing the size of the reduction of the tax liability on VAT from 35% to 80% for entities engaged in industrial processing of agricultural products of domestic production. Read more