{"id":41384,"date":"2022-12-28T17:23:34","date_gmt":"2022-12-28T14:23:34","guid":{"rendered":"https:\/\/f-chain.com\/?p=3797"},"modified":"2022-12-28T17:23:34","modified_gmt":"2022-12-28T14:23:34","slug":"the-reduced-rates-for-insurance-premiums-for-small-and-medium-sized-businesses-az","status":"publish","type":"post","link":"https:\/\/az.f-chain.com\/az\/the-reduced-rates-for-insurance-premiums-for-small-and-medium-sized-businesses-az\/","title":{"rendered":"The Reduced Rates for \u0130nsurance Premiums for Small and Medium-sized Businesses"},"content":{"rendered":"<div class=\"wpb-content-wrapper\"><p>[vc_row][vc_column width=&#8221;2\/3&#8243;][vc_column_text]<\/p>\n<p>The rates of insurance premiums for small and medium-sized businesses with annual revenue of no more than 30 million soms have been reduced since December 2022 for a period up to January 1, 2027, in the Kyrgyz Republic.<\/p>\n<p>The Law of the Kyrgyz Republic, dated November 4, 2022, introduced relevant changes to the legislation in the field of state social insurance to develop and support small and medium-sized businesses, as well as, move them out of the shadow economy.<\/p>\n<p>The changes do not extend to publicly-sponsored organizations, state-run enterprises, organizations, and institutions, as well as enterprises and organizations with a state share of more than 51 %.<\/p>\n<p>Thus, the rate of insurance for small and medium-sized business entities with annual revenue of more than 30 million soms:<\/p>\n<p>&#8211;\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 with an employee population of 5 or more people was reduced from 27.25% to 22% (12% from the employer and 10% from the employee);<\/p>\n<p>&#8211; the reduction in any type of payment equal to or greater than the average monthly wage has been reduced from 27.25% to 14% (4% from the employer and 10% from the employee) for enterprises with an employee population of 15 or more employees.<\/p>\n<p>&nbsp;<\/p>\n<p>For small and medium-sized business enterprises reporting 1-4 employees, the rate of insurance remains unchanged, i.e., 27.25% (117% from the employer and 10% from the employee).<\/p>\n<p>Furthermore, the premium level paid to employees by employers cannot be less than the amount calculated from 60 % of the average monthly salary.<\/p>\n<p>Moreover, the Workers\u2019 Health Improvement Fund (0.25%) is excluded for small and medium-sized businesses.<\/p>\n<p>Besides, amendments were introduced for the legal harmonization in the sphere of national insurance and the Internal Revenue Code of the Kyrgyz Republic in terms of conformity with the requirements of the types of tax treatment following the norms of state social insurance for fines and penalties under the law of taxation.<\/p>\n<p>In prior years, a -25% -fine was charged from the sum of payments for failure (or delay) in providing a pay sheet in the established period existing for the previous fiscal period followed by re-calculation, for failure (or delay) more than twice throughout the calendar year. As of December 2022, the first failure (or delay) in reporting under the deadline will cause a 25% penalty.<\/p>\n<p>Press Centre of State Tax Service<\/p>\n<p><a href=\"https:\/\/www.sti.gov.kg\/allnews\/2022\/12\/07\/071222\">https:\/\/www.sti.gov.kg\/allnews\/2022\/12\/07\/071222<\/a><\/p>\n<p>[\/vc_column_text][\/vc_column][vc_column width=&#8221;1\/3&#8243;][vc_single_image image=&#8221;3798&#8243; img_size=&#8221;full&#8221;][\/vc_column][\/vc_row]<\/p>\n<\/div>","protected":false},"excerpt":{"rendered":"<p>[vc_row][vc_column width=&#8221;2\/3&#8243;][vc_column_text] The rates of insurance premiums for small and medium-sized businesses with annual revenue of no more than 30 million soms have been reduced since December 2022 for a period up to January 1, 2027, in the Kyrgyz Republic. The Law of the Kyrgyz Republic, dated November 4, 2022, introduced relevant changes to the<\/p>\n","protected":false},"author":1,"featured_media":45366,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[20,21],"tags":[],"class_list":["post-41384","post","type-post","status-publish","format-standard","hentry","category-feautured-post-ru","category-news-ribbon-ru"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>The Reduced Rates for \u0130nsurance Premiums for Small and Medium-sized Businesses - FChain<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/az.f-chain.com\/\" \/>\n<meta property=\"og:locale\" content=\"az_AZ\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The Reduced Rates for \u0130nsurance Premiums for Small and Medium-sized Businesses - FChain\" \/>\n<meta property=\"og:description\" content=\"[vc_row][vc_column width=&#8221;2\/3&#8243;][vc_column_text] The rates of insurance premiums for small and medium-sized businesses with annual revenue of no more than 30 million soms have been reduced since December 2022 for a period up to January 1, 2027, in the Kyrgyz Republic. 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