Tax benefits enhance the competitiveness of the textile industry and trigger a cumulative effect, - board member of the "Legprom" association

Юлия Воробьева Exclusive
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The President has signed a new law that introduces tax benefits for various categories of entrepreneurs, including both legal entities and individuals. One of the key aspects of this document is the reduction of income tax to 1% of the average salary for workers in the garment and textile industry. The law also provides for the establishment of uniform insurance contribution rates for all participants in this sector, calculated based on the average salary.

Zarlyk Imankulov, a board member of the "Legprom" Association, emphasized the importance of the adopted law in a comment to state media, noting that it will provide significant support to the garment industry.
He explained that social and income payments were mainly financed by the entrepreneurs themselves, which created a heavy burden on businesses and negatively affected the cost of production. This, in turn, led to a decrease in competitiveness.

Imankulov also noted that creating favorable conditions to enhance the competitiveness of the garment industry compared to traditional global leaders such as China, Turkey, and Bangladesh will have a positive effect on the economy as a whole. According to unofficial data, over 200,000 people are employed in this sector, accounting for about 8% of the total working-age population of the country.

Moreover, he added that the deterioration of the situation in the light industry negatively impacts other sectors, such as trade and construction. Workers in the garment industry are generally homebuyers and play a key role in shaping domestic demand.
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