The Tax Service of Kyrgyzstan Discussed Key Support Measures for Jewelers
The main support measures for the jewelry industry include:
Import and export benefits: local manufacturers will be granted preferences regarding customs duties and taxes related to the import of equipment, technologies, and semi-finished products for jewelry production, as well as the export of products to international exhibitions.
Legalization of products: within two months, the legalization of previously imported or produced items made of precious metals will be carried out, during which tax authorities will not conduct inspections.
Self-stamping: domestic producers will be able to voluntarily affix their own stamps on their products confirming the assay, with the possibility of reducing assay fees.
Access to raw materials: simplified access to precious metals and stones from the State Fund at preferential prices, as well as the provision of raw materials with deferred payment for up to 180 days without the right to resale.
Preferential lending: a mechanism for preferential lending for the jewelry industry will be developed in collaboration with the National Bank and commercial banks.
Control and quality: a laboratory will be established at Manas International Airport for testing and stamping products with the state assay stamp, with the possibility of expanding the network of laboratories in other regions of the country.
Market expansion: acceleration of the mutual recognition of stamps within the Eurasian Economic Union to enhance the export potential of jewelry products.
Digitalization of reporting: implementation of a digital data exchange system to simplify the submission of reports and eliminate duplicative requirements for manufacturers.
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The jewelry industry will receive benefits, access to raw materials, and simplified reporting.
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