Are you considering working for yourself? Wondering how to do it legally? One option is to register as an individual entrepreneur. Deputy Chairman of the Tax Service, Nurlan Umtyulov, shared insights on the process.
Who can be an IE?
Kyrgyz citizens and foreigners residing in Kyrgyzstan can become individual entrepreneurs.
How to register?
To become an IE, visit the Tax Service in person or online, fill out form STI-163, and provide a copy of your passport. If your address is in the "Sanarip aymak" database, the tax office will verify your registration.
Online registration?
Visit Cabinet.salyk.kg, choose "Registration," undergo identification, and check your application status. You can print your IE registration certificate on the website.
What's next?
After submitting documents, the Tax Service will register you and assign an IE status. Choose a tax regime and comply with regulations.
How to operate?
Use cash registers for trading with the public and issue electronic invoices for B2B transactions. Open a business bank account for income and expenses.
Handling property
IEs cannot register real estate under their name but can own property as individuals. Proceeds from selling property should go to a personal account.
Reporting requirements
Submit reports to the Tax Service, Social Fund, and other authorities monthly, quarterly, or annually. Late reports incur fines ranging from 1 to 23 thousand soms.
Reporting for different tax regimes:
For the unified tax regime: monthly income tax and social contributions report, quarterly unified tax report, and annual tax declaration.
For the general tax regime: monthly income tax and VAT reports, quarterly sales tax report, and annual tax declaration.
