The President has signed a decree regarding support for the sewing industry and small and medium-sized businesses.
A new draft law is being developed in Kyrgyzstan that will ensure equal conditions for all enterprises in the sewing sector. Kubanychbek Isabekov, Deputy Chairman of the State Tax Service, shared details of the upcoming changes with the State Television and Radio Broadcasting Company.
He noted that the implementation of new norms will support tailors and facilitate the legalization of businesses. Insurance contributions for representatives of the sewing industry will be 12% of 40% of the average monthly salary, which is approximately equal to 2,200 soms. Additionally, there may be a temporary exemption from income tax for a certain period.
The document signed by Sadyr Japarov includes the following measures:
reduction of income tax for tailors;
reduction of insurance contributions for enterprises in the sewing industry and small and medium-sized businesses;
establishment of a minimum unified tax of 0.1% for activities conducted outside the country;
introduction of a tax on banking operations conducted through foreign banks at a rate of 0.1%.
"The sewing industry plays an important role in the country's economy, providing jobs and contributing to exports. The new decree is aimed at supporting the sector, reducing the financial burden on entrepreneurs, and strengthening socio-economic stability," noted the Deputy Chairman of the State Tax Service.
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