Electronic invoices for business in Kyrgyzstan

10th of July

The Resolution of the Cabinet of Ministers of the Kyrgyz Republic dated 6 April 2023 introduced new requirements regarding the use of electronic invoices. From May 2023, all entrepreneurs are required to use electronic invoices - upon notification by the State Tax Service of the Kyrgyz Republic.

Now all taxpayers in this country must register in the information system of the Kyrgyz Tax Service and use electronic invoices.

These requirements do not apply to entrepreneurs who use a cash register machine (CCM) or pay tax on the basis of a patent, as well as those who apply a zero tax rate and have annual revenue not exceeding 8 million soms.

Recall that the mandatory use of electronic invoices came into force in Kyrgyzstan from 1 July 2020 for VAT payers, importers and exporters of goods, and from 1 April 2022 for taxpayers whose annual turnover exceeds 8 million soms.

The use of electronic invoices reduces contacts between entrepreneurs and the tax service, as well as between taxpayers themselves. This tool facilitates the withdrawal of business from the shadow economy and simplifies the taxation process.

Kyrgyzstan is an excellent springboard for quick business decisions. Company registration in Kyrgyzstan is fast and does not require personal presence of the beneficiary. 

The main advantages of registering a company in Kyrgyzstan:

  • Kyrgyzstan is a member of the Eurasian Economic Union, which allows foreign companies to set up a business without the need to obtain work permits for foreign employees;
  • the possibility of opening a corporate account in a local bank;
  • low level of taxation: profit tax - 10%; dividend tax for non-residents - 10%; VAT - 12%, levied on the condition of doing business in Kyrgyzstan.

Advantages of opening a bank account in Kyrgyzstan:

  • loyalty to foreign citizens: this means that you can easily open a bank account in Kyrgyzstan, regardless of your citizenship;
  • availability of SWIFT transfers;
  • banks in Kyrgyzstan offer more favourable tariffs and commissions compared to European banks;
  • personal privat-banker;
  • moderately complicated compliance procedure;
  • convenient applications for Internet banking.

Intelligent Solution Group specialists are ready to take over all the hassles and tasks of starting a business in Kyrgyzstan:

  • analysing the business, geography of operations, counterparties;
  • preparation of constituent documents for a Limited Liability Company (LLC) in Kyrgyzstan;
  • registration of the LLC with the tax authorities;
  • ordering and obtaining the LLC seal;
  • registration of LLC data in extra-budgetary funds: pension fund, social insurance fund;
  • opening current accounts for LLCs in Kyrgyzstan and abroad: we will help you to choose a suitable bank, fill in the necessary forms and ensure the successful opening of an account for your company, passing all compliance checks.

Contact us and find out what documents you need to prepare to register a company with an account in Kyrgyzstan.