Banks have the right to block accounts, and violations are subject to penalties.
The State Tax Service of Kyrgyzstan has once again reminded entrepreneurs that using personal electronic wallets and QR codes of individuals to accept payments for goods and services is strictly prohibited. To conduct business, it is necessary to open specialized business wallets and accounts.
In its explanation, the tax service stated that personal wallets are intended solely for personal use. Accepting funds into a personal wallet or QR code is considered a violation, even if cash registers are used and a receipt is issued.
Who controls this
Although starting in 2026, the tax service suspended raid inspections for small and medium-sized businesses, control over such transactions is now the responsibility of banks.
Under the principle of "know your customer," commercial banks closely monitor suspicious transfers. If funds are received into a personal wallet from various sources, the bank may:
- limit operations on the account;
- temporarily block the wallet;
- request an explanation of the source of the funds.
The National Bank also monitors the activities of commercial banks and can intervene if the control is not performed effectively enough.
Reasons for tightening the rules
According to the tax service, some companies concealed their income by receiving payments into the wallets of employees, such as administrators and waiters. These cases were most commonly observed in the food service sector.
In this regard, the government decided to strengthen control over the use of physical QR codes in business.
Responsibility for violations
Using personal electronic wallets in business activities may result in the following penalties:
- first violation — warning;
- repeated violation — 5,000 soms for individuals and 20,000 soms for legal entities;
- further violations — 13,000 soms for individuals and 65,000 soms for legal entities.
Important: the tax service does not have direct access to wallets
The State Tax Service emphasizes that it cannot obtain information about citizens' accounts without a court decision. Violations are identified during inspections of retail outlets, 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 funds are received regularly from many people, this may be regarded as business activity, leading to scrutiny by the bank.
Quick opening of a business account
According to banks, opening a business account or 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 plans to conduct further explanatory activities in collaboration with banks to eliminate uncertainties and fears among entrepreneurs.
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