The Tax Code of the Kyrgyz Republic to be amended to optimize tax debts repayment to the state. The author of the amendments is Igor Gusarov.
According to him, repayment of tax debts concerning each tax is carried out under the law in the following order: tax amount, interest on the sum of overdue tax, fine, tax penalty.
"Tax debts repayment is carried out in the order of its occurrence. In the case of debt, the fine on the sum of overdue tax will be accrued, after repayment of the tax capital sum - the fine remains charge of the taxpayer. Besides, he won't be able to repay capital sum in the next accounting period until he will pay "repayment in the order of its occurrence," i.e. fine on the previous accounting period. So the fine will be able to reach the sum, exceeding the tax many times. It is suggested to exclude from the Code the norm on carrying out the repayment in the order of its occurrence," the document states.