Cement producers granted new benefits

The tax rate for the use of subsurface resources for 1 ton of limestone is halved, Spot reports.

President Shavkat Mirziyoyev signed a decree “On measures to support the building materials industry”.

According to the document:

• from October 1, the income tax rate for cement producers will be reduced from 20% to 15%;
• from January 1, 2022, the tax rates for the use of subsoil will be halved in the amount of 22,500 soums per ton of limestone intended for the production of cement.

In March, Spot wrote that construction companies are buying imported cement while the incentive is still in effect. Then the authorities canceled the customs duty on cement imports, which is 30%. The discount is valid until October 1.

It is expected that this will prevent the rise in prices for building materials, which, as a rule, leads to higher prices for other goods. Significant growth in construction is expected in the coming months compared to last year.