Creative Industries Park is a special tax regime that will encourage businesses to come out of the shadows. Director of the Association of Creative Industries Nazgul Kubakaeva told at a press conference.
According to her, the course has now been taken on bringing domestic companies to world markets. This will increase the investment attractiveness of Kyrgyzstan. But it is worth taking into account that cooperation with foreign companies necessarily requires a tax and credit history. If the creators from Kyrgyzstan remain in the shadows, they will not be able to become participants of the process.
«The terms of the tax regime are being discussed now. They will be more beneficial than the general tax regime. Thanks to this, all participants of the creative industries market will be formalized and become full participants in economic processes. They will be able to submit their applications for participation in various competitions, receive investments from companies and attract partners from abroad. To date, the criterion for residents of the Creative Industries Park is clearly defined. At least 90 percent of earnings should be received from the sale of a creative product. Further accompanying criteria and working conditions are now being determined, a special resolution of the Cabinet of Ministers will be adopted,» Nazgul Kubakaeva told.
The President signed the law on the Creative Industries Park on August 8, 2022. Kyrgyzstan became the first country in the world to adopt such a document.
