New Edition of Tax Code of Kyrgyzstan Is Enacted
OREANDA-NEWS. January 17, 2009. Please be informed that new edition of Tax Code of the Kyrgyz Republic became effective since 1 January 2009. According to Chapter 12 of the new Tax Code, Sales Tax applicable to gross sales of goods, services, works including gross interest income from loans is introduced at rate of 2.5%, reported the press-centre of KICB.
Sales Tax is indirect tax. As per Article 20 of the Tax Code of the Kyrgyz Republic, indirect taxes – taxes, imposed as markup on the price, tariff or interest rate.
Due to these legislative changes, we inform you that effective 1 February 2009 Sales Tax will be collected at rate of 2.5% on charges/interests paid to the bank.
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