In 2024, the State Tax Service of Kyrgyzstan collected a record 228.2 billion soms ($2.6 billion) for the country’s budget, reports Akchabar.kg.
The main sources of revenue included VAT on domestic goods (39.4 billion soms), VAT on imports from EAEU countries (37.9 billion soms), income tax (26.5 billion soms), profit tax (20.1 billion soms), and taxes on the income of gold mining companies (16.1 billion soms).
Compared to 2023, there was a significant increase in revenue. VAT on domestic goods grew by 9.6 billion soms (+132.4%), VAT on imports from EAEU countries by 5.2 billion soms (+115.9%), income tax by 4.7 billion soms (+121.4%), and profit tax by 2.5 billion soms (+114%). The most substantial growth was observed in the unified tax, which increased by 212.6% (+8 billion soms).
It is noted that the increase in tax revenue was made possible through improved tax administration, enhanced monitoring and analysis, and the implementation of modern digital technologies.
CentralasianLIGHT.org
January 23, 2025