Production of cotton oil in Uzbekistan is exempted from excise tax

Telegram channel of the Ministry of Justice reports that a presidential decree on introducing amendments to certain decrees of the President of the Republic of Uzbekistan was adopted.

According to the amendments, plant oil (cotton oil) produced in Uzbekistan is freed from the excise tax.

Also, technical cottonseeds can now be sold to local enterprises with production capacity and corresponding certificates for the processing of cotton seeds irrespective of patterns of ownership. In the previous procedure, mainly technical cottonseeds were sold to oil-producing companies of JV “Uzpakhtayog” and 23 other regional enterprises.

In addition, cottonseed hulls and schrots are now sold freely in exchange trades. Previously, such goods were sold with following the stock exchange regime of commissions and distribution of volumes.