In Kyrgyzstan, a new draft law is currently being developed that will create unified conditions for all sewing enterprises. This was reported by Kubanychbek Isabekov, Deputy Chairman of the State Tax Service, in an interview with Ala-Too LIVE.
According to Isabekov, the implementation of new rules will equalize working conditions for all categories of seamstresses. It is expected that the insurance contributions will amount to 12% of the average monthly salary, which is approximately 40%, resulting in an average sum of about 2,200 soms. Additionally, a temporary exemption from income tax may be introduced.
“These measures will help support seamstresses during difficult times and will contribute to the legalization of businesses,” emphasized the Deputy Chairman.
It is worth noting that President Sadyr Japarov signed a decree "On Measures to Support Certain Sectors of the Economy," aimed at supporting entities in the sewing industry as well as small and medium-sized enterprises (SMEs).
Among the key measures outlined in the decree, the following initiatives aimed at developing the sewing industry and SMEs can be highlighted:
- Reduction of tax and insurance burdens, which includes:
- Decrease in income tax rates for sewing enterprises;
- Reduction of insurance contribution rates for the sewing industry;
- Decrease in insurance contribution rates for small and medium-sized enterprises;
- Establishment of a unified tax of 0.1% for activities outside the territory of the Kyrgyz Republic;
- Establishment of a transaction tax of 0.1% for operations through banks of foreign states.
The sewing industry plays an important role in the manufacturing sector of Kyrgyzstan, providing jobs and contributing to the formation of export potential. In the context of increasing competition, tax and insurance reliefs are necessary for the sustainable development of the sector.
In accordance with the decree, the Cabinet of Ministers will be proposed to consider issues related to reducing income tax rates and insurance contribution rates for the sewing industry with the aim of improving the pension system and strengthening the socio-economic stability of this sector.
