As part of a new bill presented on December 23, the jewelry industry of Kyrgyzstan may receive unique tax benefits that are not available in other post-Soviet states. This was announced by Almambet Shykmamatov, chairman of the State Tax Service of Kyrgyzstan, at a joint meeting of the committees of the Jogorku Kenesh.
According to Shykmamatov, currently only 47 jewelry manufacturers are officially registered, while most of them operate in the shadow sector. The new bill proposes a number of benefits for jewelers that have no analogs in neighboring countries.
"The tax rate for the jewelry industry will be only 0.25% of the total turnover," he specified.
In addition, Shykmamatov expressed hope that the implementation of these measures will contribute to the legalization of the industry, the creation of new jobs, a reduction in labor migration, and an improvement in the socio-economic situation in the country.
The head of the STS emphasized that the jewelry industry has significant potential, and with government support, it can achieve sustainable development within the next five years.
