Amendments to the Tax Code of the Kyrgyz Republic

President of the Kyrgyz Republic Sooronbai Jeenbekov signed the Law of the Kyrgyz Republic “On Amendments to the Tax Code of the Kyrgyz Republic”.

The law was adopted by the Jogorku Kenesh of the Kyrgyz Republic on March 7, 2019.

In order to improve the tax legislation of the Kyrgyz Republic in terms of taxation of guarantee funds, the adopted Law introduces an amendment to Part 1 of Article 207 of the Tax Code of the Kyrgyz Republic, according to which:

The amount sent by the bank or the guarantee fund to loan, guarantee and leasing loss provision used only for the purpose of securing bank loans and related assets, including guarantees issued by guarantee funds, shall be deducted from the aggregate annual income.

The law enters into force in 10 days after the date of official publication.

Official website of the President of the Kyrgyz Republic