Meat Market Managers Arrested for Tax Evasion
Massive Tax Evasion Uncovered at Meat Market in Kyrgyzstan
Bishkek – 24.kg news agency
By Zamira NIYAZBEKOVA
In a recent report by the State Committee for National Security of Kyrgyzstan (SCNS), it was revealed that the meat market Firm Akif LLC, located in Osh Bazary, has been involved in a significant evasion of tax payments.
According to the SCNS, the market management had created a system of double-entry bookkeeping in order to conceal the true amount of revenue generated from renting retail spaces and premises. This resulted in a significant underreporting of profits, up to 90 percent, in the financial documents.
Furthermore, the committee stated that the managers of the market had also misappropriated property through fraudulent actions.
As a result of investigative and operational activities, the founder and managing director of the market have been detained and placed in the temporary detention center of the SCNS.
This discovery serves as a reminder of the importance of transparency and compliance with tax regulations in the business sector. The SCNS is likely to continue its efforts to combat tax evasion and ensure accountability among businesses in Kyrgyzstan.
