The decree contains a directive for the Cabinet of Ministers to prepare and submit within a month a draft law on supporting the jewelry industry for consideration by the Jogorku Kenesh. In particular, this project should provide for tax benefits and preferences regarding the payment of customs duties when importing equipment, technologies, reagents, and semi-finished products necessary for jewelry production, as well as when exporting jewelry for participation in international exhibitions and fairs.
Additionally, the draft law must ensure the legalization of jewelry made from precious metals that were imported or produced earlier, within two months, and establish a moratorium on inspections during this period.
The draft law also includes simplified conditions for domestic producers to access raw materials from the State Fund of Precious Metals and Stones at prices discounted by 2 percent from the fixing of the London Bullion Market Association, as well as the possibility of preferential lending for participants in the jewelry industry.
Furthermore, the draft law should include:
- exemption of individuals and legal entities from taxes on the sale of motor vehicles for a period of three years;
- exemption of individuals not registered as individual entrepreneurs from tax obligations, including penalties and sanctions, on income from the sale of motor vehicles received before January 1, 2026;
- exemption from sales tax on the sale of vehicles and their components that were produced or assembled in Kyrgyzstan.
The draft law developed by the government also proposes a reduction in income tax rates and insurance contribution rates for the textile industry, as well as for small and medium-sized enterprises. It will establish a unified tax rate of 0.1 percent for activities outside Kyrgyzstan and a transaction tax rate of 0.1 percent for operations through banks of foreign states.
