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President not support initiative to exempt grain import from VAT

President of Kyrgyzstan Sooronbai Jeenbekov returned with an objection the bill on introducing preferential taxation for the import of grain for five years. Deputies of the Parliament agreed with the opinion of the head of state at a meeting today.

This bill was adopted in three readings in April.

According to the project initiator, Ekmat Baibakpaev, in order to ensure food security in the country, the Millers Association asked to exempt grain imports from VAT. During the discussion, the deputy admitted that he is a manufacturer in the field of grain processing.

Some deputies opposed it and proposed reducing the period of exemption from VAT from five to two years, since the initiative is fraught with losses for the state budget.

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