According to the resolution, companies operating in the jewelry industry will be able to import equipment, technology, reagents, and semi-finished products into Kyrgyzstan without paying VAT and customs duties.

These benefits will only apply to companies included in a special list.

Furthermore, jewelry exported for participation in international exhibitions and fairs will be exempt from customs duties.

To qualify for these benefits, entrepreneurs have to:

be registered as a legal entity or individual entrepreneur;

be registered with a special registry for transactions with precious metals and stones;

operate under a single tax at a rate of 0.25 percent;

have production facilities that meet sanitary standards.

The regulation will take effect in ten days after its official publication.