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Economy Ministry proposes to exempt import of vehicles from VAT

It is proposed to set a zero rate of value added tax in import of vehicles for personal use into Kyrgyzstan. The Ministry of Economy submitted the bill for public discussion.

The ministry reminded that Kyrgyzstan has been applying the customs duty rates, established by a decision of the Council of the Eurasian Economic Commission, since January 1, 2020. Cost of customs clearance of vehicles imported from third countries has grown significantly due to this.

«Application of such customs duty rates will reduce the level of renewability of the market of motor vehicles; the volume of import of cars with reduced wear and high environmental safety into Kyrgyzstan will cause an increase in their cost,» the Ministry of Economy stressed.

The ministry proposes to exempt import of vehicles by individuals from import VAT (12 percent) for 3 years.