21:17
+23
USD 68.74
EUR 80.81
RUB 1.15
English

Kyrgyzstan again wants to introduce VAT on imports of grain and flour

Kyrgyzstan again wants to introduce VAT on imports of grain and flour, the parliamentary committee on economic and fiscal policy said today at a meeting.

According to the initiator of the amendments Kenzhebek Bokoev, changes to the law «On the Implementation of the Tax Code of the Kyrgyz Republic" have been developed with the aim of the country’s food security and reducing the deficit of the republican budget.

The draft law proposes to set VAT on the import and supply of grain and flour at a rate of 12 percent.

It should be noted that earlier the tax was canceled. According to the deputy, if to leave everything as it is, the annual tax revenues to the republican budget from flour processors will decrease by 1 billion soms per year. Farmers will have to reorient themselves to agriculture, especially in the Chui region, from sowing wheat to other types of crops, which requires the cost of purchasing seeds from other crops. This will lead to a rise in the cost of feed, and consequently, to the non-competitiveness of milk and dairy products, meat and eggs of domestic production.

Popular