Violations are subject to fines, and banks have the right to block accounts.
The State Tax Service of Kyrgyzstan has drawn the attention of entrepreneurs to the fact that making payments for goods and services through personal electronic wallets and QR codes of individuals is illegal. Special accounts and business wallets must be opened for such transactions.
Tax service representatives emphasize that personal electronic wallets are intended solely for private needs. Accepting payments to a personal wallet or QR code from the seller's side is considered a violation of the law, regardless of the presence of a receipt or the use of a cash register.
Control Mechanisms
Despite the fact that until the end of 2026 the tax service has suspended raid checks for small and medium-sized businesses, the control over such transactions is now entrusted to commercial banks.
In accordance with the "know your customer" rules, banks monitor suspicious transfers. If regular transfers from various individuals are received to a personal wallet, the financial organization may:
- limit operations;
- temporarily block the account;
- request clarification about the origin of the funds.
The National Bank monitors the activities of commercial banks and can intervene if it notices shortcomings in their operations.
Reasons for Tightening Rules
According to the tax service, some companies avoided paying taxes by receiving money into the accounts of their employees, such as waiters and administrators. These cases were particularly common in restaurants and cafes.
In this regard, the government decided to strengthen control over the use of physical QR codes in business.
Fines for Violations
The following fines are provided for using a personal electronic wallet in commercial activities:
- first violation — warning;
- repeated — 5,000 soms for individuals and 20,000 soms for legal entities;
- for further violations — 13,000 soms for individuals and 65,000 soms for legal entities.
Important to Know: The Tax Service Does Not Have Direct Access to Accounts
The GNS clarifies that it cannot directly see the accounts and wallets of citizens. This information becomes available only by court order. Violations are recorded during inspections, for example, if a QR code is registered to an individual rather than to an entrepreneur.
What About Charitable Collections?
One-time or rare transfers, such as collections from parent committees or assistance to acquaintances, are not considered violations. However, if receipts occur daily and from different people, the bank may regard this as commercial activity and initiate an investigation.
Quick Opening of a Business Account
Banks report that opening a business account or business wallet can be done quickly and even online. Nevertheless, many entrepreneurs continue to use personal wallets due to the absence of fees and faster fund deposits.
The tax service intends to continue educational work together with banks to eliminate misunderstandings and fears among entrepreneurs.
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