The Minister of Economy and Commerce, Bakyt Sydykov, presented this initiative.
He emphasized that the draft law is developed to implement the Presidential Decree "On Measures to Support Certain Sectors of the Economy," and is also aimed at improving the country's legislation and enhancing its transparency and efficiency.
Among the proposals of the draft law are the introduction of a number of tax benefits for certain sectors of the economy. In particular, it is planned to exempt from VAT the equipment, technologies, reagents, and semi-finished products for jewelry production that are imported into Kyrgyzstan.
Also among the initiatives is a temporary exemption of individuals and legal entities from taxes on the sale of cars for three years, as well as on the sale of vehicles and their components produced or assembled in the country. Additionally, it is proposed to reduce income tax rates and insurance contributions for enterprises in the garment industry.
As a result of the discussion, the draft law was adopted in three readings.
