In Kyrgyzstan, insurance premium rates have been reduced - from 27.25% to 12.25%. President Sadyr Japarov signed the corresponding law

In Kyrgyzstan, insurance premium rates have been reduced – from 27.25% to 12.25%. President Sadyr Japarov signed the corresponding law.

Now 2.25% of insurance premiums are paid by the employer, and 10% by the employee. The rate reduction does not apply to the following categories:

• organizations financed from the state budget;
• mining enterprises with a license to develop subsoil of national importance;
• companies involved in the provision of electricity, heat and gas;
• enterprises producing and/or importing alcohol, tobacco products and fuels and lubricants (with the exception of licensed oil and natural gas processors);
• cellular operators;
• Internet providers;
• commercial banks and specialized financial and credit institutions.

To reduce the risk of loss of income from insurance premiums, the law obliges employers to maintain a tax agent register containing current information about employees. This register is used when filing income tax returns.