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Fiscalization of taxes reduces shadow economy by 5 billion soms

After the launch of components for fiscalization of tax procedures, reduction in the volume of shadow economy reached more than 5 billion soms. Deputy Chairman of the State Tax Service of Kyrgyzstan Kubanych Shatemirov told today during a panel discussion.

According to him, automation and fiscalization projects launched by the State Tax Service contribute to growing efficiency of tax administration. This is evidenced by the data on collection of taxes and duties.

«2019 passed without severe stress, nevertheless, there has been a steady increase since the launch of the first fiscalization projects in July 2020. It is estimated at 2.8 billion soms. But the economy was in a difficult situation due to the coronavirus pandemic last year. In the first months of 2021, the overfulfillment compared to last year amounted to about 2.3 billion soms,» Kubanych Shatemirov told.