Kyrgyzstan plans to increase sales tax rate from 2 to 5 %

Bishkek, Aug. 6, 2018. / Kabar /. The increase in the sales tax rate from 2 to 5% for today is only a proposal of the Ministry of Economy, and the figure may change during the dialogue with the business community, Minister of Economy of the Kyrgyz Republic Oleg Pankratov told reporters at Kabar News Agency. "The figure of 5% for today is not yet an axiom and not a dogma. This is offer. Perhaps, the figures will lower, so that it was not immediately painful. Therefore, exact economic calculations will be made jointly with the business, and a consensus will be found," he said. Since July 11 of this year a darftlaw of the Ministry of Economy of Kyrgyzstan on raising the sales tax from 2 to 5% was submitted for public discussion. Its main target audience, Pankratov said, are large trading enterprises, and it will not affect small and medium-sized businesses. The minister said that, this initiative will be discussed jointly with entrepreneurs, and a working group will be set up specially for this purpose from among the specialists of the ministry and representatives of business associations. Taking into account bilateral interests, the draftlaw will be amended accordingly.