Businesses Prohibited from Using Third-Party E-Wallets for Payments

The State Tax Service of Kyrgyzstan has warned entrepreneurs about the inadmissibility of using electronic wallets, QR payments and other non-cash payment instruments registered to individuals or third parties.

All non-cash payment instruments must be registered exclusively to individual entrepreneurs or legal entities that conduct business activities. The use of wallets registered to relatives or third parties leads to the concealment of income, understatement of taxes, and operation outside the legal framework.

The agency emphasised that a fine of 65,000 KGS is imposed on legal entities for violating the rules. The State Tax Service calls on businesses to comply with the law, ensure transparency of settlements and thereby contribute to the development of fair competition and the reduction of the shadow economy.