VAT increases price of medicines in Kyrgyzstan
Medicines to be more expensive in Kyrgyzstan with the introduction of VAT
17.09.2024
Article published on the 24.kg website
The price of medicines and pharmaceutical products is expected to rise in Kyrgyzstan, according to Asel Turdaliyeva, Chief Medical Specialist at the Ministry of Health.
The Council of Ministers has announced the imposition of VAT on medicines and pharmaceuticals in Kyrgyzstan. An Order to this effect was signed on 27 August and supersedes the previous decree under which they were exempt from the tax.
The VAT rate is set at 12% on taxable supplies and imports, said Turdaliyeva. As a result, prices are likely to rise by 12%.
Almazbek Altybayev, Executive Director of the Kyrgyzstan Pharmaceutical Association, has warned that medicine smuggling could go up by 60% if VAT were introduced and most likely lead to higher prices.
However, some drugs are already noticeably more expensive. For example, hypertension sufferers say that the price of Aira-16, which in the summer was 600-700 soms, now costs at least 1,100 soms.
