The State Tax Service of Kyrgyzstan has drawn attention to the fact that March 1 is the deadline for the legalization of jewelry items that were imported or produced without primary documents. There are only 16 days left to complete this procedure.
The agency noted that this initiative allows entrepreneurs to avoid liability and obligations as a tax agent. Legalized items are also subject to reduced rates of assay fees for testing and hallmarking.
For jewelry items made of gold, platinum, and palladium, both domestically and internationally produced, including used ones, the fee is 10 soms for each item. For silver items, the fee is set at 8 soms.
To legalize the items, taxpayers must submit an electronic document through the electronic invoice system on the website by the specified deadline. In the system, they should open the "Acquisition" section, go to the DPBU subsection, and click the "Add" button. Then, they need to select the field "Entering information about precious jewelry items made of precious metals," specifying the name, weight, quantity, and grade of the item.
After selecting this option, the main details are generated automatically, and the user only needs to fill in the product part. Product codes must correspond to the unified Commodity Nomenclature of Foreign Economic Activity of the Eurasian Economic Union. It is recommended to specify the type of item and its grade, for example, a gold ring of 585 grade or silver earrings of 925 grade.
Each product line must contain information about the unit of measurement, quantity, price per unit, and total cost. The product name must be pre-added to the directory in the "Profile" section, subsection "Goods and Services."
The tax service emphasized that the electronic document cannot be corrected or canceled, so it is important to enter all data correctly and without errors.
After submitting the information in the system, taxpayers must contact the Tax Service Department dealing with precious metals to complete the procedure for testing and hallmarking the items.
It is also worth noting that by the decision of the Cabinet of Ministers, the voluntary patent for this category of activity has been canceled. Now, entrepreneurs working with precious metals and jewelry items must apply a simplified taxation system with a tax rate of 0.25% and mandatory use of cash register machines.
