The draft law includes a number of measures aimed at the comprehensive development of the jewelry and textile industries, as well as support for small and medium-sized businesses.
Key provisions of the draft law:
– exemption from VAT on equipment, technologies, reagents, and semi-finished products used in jewelry production;
– exemption of individuals and legal entities from taxes when selling vehicles;
– write-off of tax debts for individuals arising from transactions related to the re-export of vehicles;
– exemption of vehicle manufacturers from sales tax when selling cars;
– reduction of income tax rates and insurance contribution tariffs for the textile and garment industry;
– establishment of a 6% insurance contribution rate for property tenants based on the truncated average monthly salary;
– reduction of the single tax rate to 0.1% for activities conducted outside the country;
– reduction of the tax on transactions carried out through foreign banks to 0.1%;
– legalization of remaining jewelry items made of precious metals within two months with the establishment of a moratorium on inspections by tax authorities;
– delegation of functions for testing and hallmarking to domestic jewelry manufacturers using their own stamps, in addition to the state stamp;
– cancellation of licensing for the retail sale of alcoholic beverages under certain legislative acts, including the Administrative Procedure Code and the Law on the Licensing and Permit System.
