Tax benefits enhance the competitiveness of the textile industry and trigger a cumulative effect, - board member of the "Legprom" association

The president has signed a new law that introduces tax benefits for various categories of entrepreneurs, including both legal entities and individuals. One of the key aspects of this law is the reduction of income tax for workers in the garment and textile industry to 1% of the average salary. Additionally, uniform rates for insurance contributions will be established for all participants in this sector, which will also be calculated based on the average salary.

Zarlyk Imankulov, a board member of the "Legprom" Association, commented on the adoption of the law in an interview with state media. He expressed confidence that this document will provide significant support to the garment sector.

“Previously, social and income payments effectively fell on the shoulders of entrepreneurs, creating a huge financial burden on businesses and negatively impacting the cost of production. This, in turn, reduced our competitiveness,” noted Imankulov.

According to him, improving conditions to enhance the competitiveness of the garment industry compared to traditional market players such as China, Turkey, and Bangladesh will have a positive effect on the economy as a whole. In the industry, according to unofficial data, more than 200,000 people are employed, which accounts for approximately 8% of the total working-age population of the country.

Imankulov also added that the deterioration of the situation in the light industry negatively affects related sectors such as trade and construction. In his opinion, workers in the garment industry play an important role as homebuyers and factors contributing to domestic demand.