PROBLEMS IN TAXATION OF COMMERCIAL BANKS IN KYRGYZSTAN AND SOME VIEWS ON THEIR SOLUTIONS

Abstract

The article examines some problems of taxation in the banking system of the Kyrgyz Republic and presents the author's views on their solution. The banking system is an important component of a market economy, contributing to the active development and growth of the state. Commercial banks are an integral part of the financial sector, their main function is the redistribution of capital, and at the same time, they increase the overall efficiency of production in the country. When carrying out certain activities (attracting deposits, lending funds, servicing accounts and transactions with securities), credit institutions, especially banks, are obliged to pay the appropriate taxes (on profit, VAT, sales, etc.). However, the taxation of banks has its own differences due to the specifics of their operations. These features affect such elements of the taxation process as calculating the taxable base for certain taxes, exempting a number of transactions and services from indirect taxation, granting benefits, and forming income and expenses. The insufficient theoretical and practical development of this issue, as well as frequent changes in legislation, emphasize the importance of considering this research topic.