ORDER OF THE MINISTRY OF FINANCE OF THE KYRGYZ REPUBLIC

of April 18, 2003 No. 127-p

In pursuance of the Presidential decree of the Kyrgyz Republic "About additional measures for forming of the favorable investment circle" of January 15, 2003 unitary enterprise No. 10 and the order of the Government of the Kyrgyz Republic of September 19, 2002, for the purpose of improvement of administration of the value added tax and replenishment of revenues of the budget, I order to No. 504-r:

1. Approve the Provisions "About Application of the Invoices VAT as Forms of the Strict Reporting" and "About Accounting Treatment, Storages and Issues of the Invoices VAT as Forms of the Strict Reporting, and also Cash Accounting in Territorial Authorities of Committee on the Income under the Ministry of Finance of the Kyrgyz Republic".

2. To department of the income (Nadyrbekov K.) register this order in the Ministry of Justice of the Kyrgyz Republic.

3. To committee on the income under the Ministry of Finance of the Kyrgyz Republic:

- take all measures for introduction in all territory of the Kyrgyz Republic of application of the invoices VAT as forms of the strict reporting in May, 2003;

- provide strict execution of the Provisions approved by this order;

- provide regular supply of taxpayers with forms of the invoices VAT.

4. To the chief of staff (Sulaymanov M.) to publish this order in mass media.

5. To committee on the income under the Ministry of Finance of the Kyrgyz Republic (Shadiyev A.) be guided by this order and bring it to the attention of territorial tax authorities and taxpayers.

6. Consider invalid the Order of the Ministry of Finance of the Kyrgyz Republic "About approval of the standard form "Invoice VAT" and Regulations on application of the invoices VAT when calculating for leviable deliveries" of August 23, 1999 No. 227-p.

Approved by the Order of the Ministry of Finance of the Kyrgyz Republic of April 18, 2003 No. 127-P

Regulations on application of the invoices VAT as form of the strict reporting

I. General provisions

1.1. This Provision is developed according to the Tax code of the Kyrgyz Republic and determines types, procedure for acquisition and application of the invoice VAT as form of the strict reporting in the territory of the Kyrgyz Republic.

1.2. The leviable subject (the subject which is registered or shall be registered as the payer of the VAT according to requirements of articles 128 and 129 of the Tax Code of the Kyrgyz Republic) shall record acquired material resources and the delivered goods (the performed works, the rendered services) on the basis of the invoices VAT as forms of the strict reporting of the sample established by Committee on the income under the Ministry of Finance of the Kyrgyz Republic (Appendices No. 1.1 - 1.4), except as specified, provided in Item 5.6. this provision.

The business entities rendering services of telecommunication, heat power, electric power, water supply and the sewerage to other business entities can apply the existing invoices VAT, on condition of obligatory content in all of them the established details according to Item 5.1 of this provision with assignment of series and numbers which forms shall be approved by the order of Committee on the income under the Ministry of Finance of the Kyrgyz Republic. Numbers and series are appropriated by Department of Tax Service of Committee on the income under the Ministry of Finance of the Kyrgyz Republic according to the request of business entity.

1.3. On the basis of the invoices VAT as forms of the strict reporting it is determined as the VAT amount shown to the buyer for delivery of goods (works, services) and the VAT amount paid to the supplier for the acquired material resources.

In the cases provided by Items 3.2. and 5.6. this provision and payment of the VAT when importing, the tax liability is determined by the VAT without application of forms of the invoices VAT as forms of the strict reporting.

1.4. The invoice VAT as the form of the strict reporting it shall be written out only by the leviable subject registered on the VAT.

II. Invoice types of the VAT as form of the strict reporting

2.1. Invoice types of the VAT as forms of the strict reporting:

1) for the printer, the A4 format;

2) for the printer, the A5 format;

3) for manual filling, the A4 format;

4) for manual filling, the A5 format.

2.2. The set of the invoice VAT as form of the strict reporting consists of 3 copies:

1) the first copy (original) is issued to the buyer;

2) the second copy (copy) remains at the supplier;

3) the third copy (copy) is represented to district state tax authorities (further RGNI).

The leviable subjects performing the monthly statement more than 500 sets of forms of invoices instead of the third copy represent the register of the written-out invoices of the established sample to RGNI (Appendix No. 2) and its copy on the electronic medium.

2.3. All leviable subjects, according to the established reporting form (Appendix No. 2) shall represent to RGNI the register of the written-out invoices VAT with application of a copy in electronic form in EXCEL.

This register of the written-out invoices VAT is submitted:

- leviable subjects in RGNI - before the expiration of one month after the termination of tax period on the VAT (together with the report of the VAT);

- RGNI in FIRES - to the 20th day of the second month following for reporting;

- FIRES in Management of ACS - to the 30th day of the second month following for reporting.

III. Special provisions

3.1. The order for production of forms of the invoices VAT is performed by Committee on the income under the Ministry of Finance of the Kyrgyz Republic (further - Committee on the income) according to the constituted contracts with the manufacturer, according to the request provided by Department of Tax Service of Committee on the income under the Ministry of Finance of the Kyrgyz Republic (further DNS EFFICIENCY in case of MF KR).

3.2. The committee on the income, according to the request of large business entities makes the order for production of forms of the invoices VAT at the expense of their own means with assignment of numbers and series of forms. The list of large business entities is determined by Committee on the income. Samples of forms of invoices with assignment of series, number are without fail approved with Department of Tax Service of Committee on the income and affirm Committee on the income.

IV. Procedure for acquisition of the invoice VAT as form of the strict reporting

4.1. Tax authorities on areas and Bishkek shall make timely and in full delivery and providing forms of the invoices VAT for subordinate territorial tax authorities.

4.2. The invoice VAT as the form of the strict reporting, is acquired in RGNI in place of registration of the leviable subject.

4.3. Upon purchase the leviable subject shall submit the application for acquisition of the invoice VAT as form of the strict reporting to RGNI in place of registration (Appendix No. 3).

4.4. RGNI shall consider the application within 1 day. After entering by the leviable subject of payment of money into cash desk of RGNI for acquired forms or provisions into tax authority of the payment document confirming transfer and introduction of money to the special account, RGNI shall issue to the leviable subject of the invoice VAT according to this Provision. The copy of the payment order or the receipt is given in RGNI and is registered in the book of accounting of issue of forms of the invoices VAT.

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