Kyrgyzstan not to introduce VAT for construction industry
Value-added tax will not be introduced for the construction industry. A representative of the Tax Service announced at a meeting of the Committee on Budget, Economic and Fiscal Policy of the Parliament of Kyrgyzstan.
According to him, in addition, representatives of the construction industry asked the State Tax Service for time until July 1, 2025 to switch to a single tax. The Tax Service agreed to give this time.
The representative of the State Tax Service also told that the current rate of the single tax for the construction industry is 6 percent. Now it is proposed to reduce it to 4 percent, but only for non-cash transactions.
Earlier, the Ministry of Economy proposed introducing a VAT of 12 percent for developers, whose cost per square meter of housing exceeds $ 1,000 due to the unjustified rise in housing prices.
President Sadyr Japarov said that he was against the initiative.
