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President signs tax deferral amendments to Codes due to coronavirus

President of Kyrgyzstan Sooronbai Jeenbekov signed the Law of the Kyrgyz Republic on Amendments to Certain Legislative Acts of the Kyrgyz Republic on Stabilization of Socio-Economic Situation in Connection with Force Majeure. The Information Policy Department of the Presidential Administration reported.

The law was adopted by the Parliament on April 1. The package includes changes to the Tax Code and Code of Violations.

It is specified that from April 1 to October 1, taxpayers can file applications for deferment or installment plan on the amount of tax debt resulting from force majeure circumstances without presenting bank guarantee documents for a period of not more than a year. The deadline for tax reporting, with the exception of tax reporting on indirect taxes during import of goods into the territory of the Kyrgyz Republic from the EAEU, is proposed to be extended for business entities until July 1, 2020.

The deputies propose not to apply tax sanctions and penalties for non-fulfillment of tax obligations by a taxpayer for the period from March to June as a result of force majeure circumstances.

In addition, the deadline for submitting the single tax return for 2019 by individuals and individual entrepreneurs is to be set until April 1, 2021.

The law comes into force on April 1.

As of today, there are 130 confirmed coronavirus cases in Kyrgyzstan, one person died, five people recovered. At least 1,900 people contacted with the infected.