In Kyrgyzstan, tax benefits for jewelers, tailors, and car sales have come into effect.

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In Kyrgyzstan, tax benefits for jewelers, tailors, and car sales have come into effect

The law signed by President Japarov has come into effect and introduces a number of tax benefits.

The main goal of this legislation is to implement the president's decree aimed at supporting certain sectors of the economy and improving legal regulation in the country.

Key provisions of the Law:

– exemption from VAT for equipment, technologies, reagents, and semi-finished products used in jewelry production;

– tax benefits for individuals and legal entities selling passenger motor vehicles until January 1, 2029;

– exemption from tax obligations for individuals (except for individual entrepreneurs) on income from the sale of motor vehicles received before January 1, 2026;

– manufacturers of vehicles and components produced or assembled in Kyrgyzstan are exempt from sales tax upon their sale;

– starting from January 1, 2030, a unified rate of insurance contributions will be established for all enterprises in the sewing and textile industry, as well as a minimum income tax of 1% of the average monthly salary of employees;

– for tenants, an insurance contribution rate of 6% of the truncated average monthly salary is established;

– reduction of the single tax rate to 0.1% for operations conducted outside Kyrgyzstan;

– reduction of the transaction tax rate to 0.1% for operations through foreign banks;

– the possibility of legalizing the remaining previously imported or produced jewelry made of precious metals with a suspension of tax audits during this period;

– domestic jewelry manufacturers will be able to voluntarily use their own hallmark to confirm the assay, with a possible reduction in assay fee rates;

– cancellation of licensing for the retail sale of alcoholic products;

– tax disputes are not subject to consideration by arbitration courts.
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