«We have worked out an agreed version on the issue of the Tax Service’s access to information constituting banking secrecy,» Deputy Minister of Economy and Commerce of Kyrgyzstan Iskender Asylkulov said at a press conference on Wednesday.
According to him, the controversial issue was worked out by the Ministry of Economy together with the Union of Banks, the National Bank, the Tax Service and entrepreneurs. As a result, it was decided that the Tax Service, upon request, would receive information only on transactions between entrepreneurs.
«In general, up to 2 percent of the number of registered entrepreneurs are subject to tax audits in Kyrgyzstan. In the process of inspections, it is difficult to fully consider the process of interaction between entrepreneurs. Therefore, the norm on access to banking secrecy was introduced. But the Tax Service will, during inspections, request information from banks only on transactions. If a person, for example, saves money or spends on personal needs, we do not need it. We are only interested in mutual trade, turnover,» Iskender Asylkulov said.
Source: 24.kg News Agency