Companies face a new tax of 0.1% on foreign operations and transactions

The Unified Public Discussion Portal has published an updated draft law from the Ministry of Economy introducing a new rule for domestic companies: a fixed tax of 0.1% on foreign operations. The same rate is proposed for transactions through foreign banks. In short, the state seeks to establish clear rules for transactions conducted outside national borders.

This initiative is part of a package of amendments to tax legislation prepared in accordance with Presidential Decree No. 350 on support for certain sectors of the economy. The draft also proposes tax breaks for the jewellery and garment industries, a reduction in certain import duties on equipment, the transfer of assay control functions to domestic producers, and exemption from taxes on car sales until 1 January 2026.

In addition to these incentives, the document clarifies procedures for the reimbursement of non-tax revenues, simplifies administrative proceedings, and increases liability for illegal economic activities. It also proposes to abolish the possibility of arbitration in tax disputes.

The updated draft is available on the Koomtalqoo portal. Contact person: S. T. Isakov, tel.: +996 555 222 601.